MISC Annual Report 2019

39. SUBSIDIARIES AND ACTIVITIES (CONT’D.) Effective interest Country of Principal held (%) Name of company incorporation activities 2019 2018 AET Bermuda Holdings Limited Bermuda Investment holding 100 – AET Shuttle Tankers II Pte. Ltd. # Singapore Owning, chartering and operating of vessels 100 – AET Singapore Holdings Pte. Ltd. # Singapore Investment holding 100 – AET Pte. Ltd. # Singapore Investment holding 100 – AET Sea Shuttle II AS # Norway Owning, chartering and operating of vessels 95 – MISC Offshore (USA) LLC The United States Providing support services in the bidding 100 – of America and execution of offshore deepwater FPSO projects MISC Offshore (Singapore) Pte. Ltd. Singapore Providing support services in the bidding 100 – and execution of offshore deepwater FPSO projects Magellan X Pte. Ltd. # Singapore Providing support services in the 100 – development of digital products and solutions Chord X Pte. Ltd. # Singapore Providing data-driven solutions for 100 – industrial machinery application SOL-X Pte Ltd # Singapore Providing health, safety and security 100 – management solutions Spares CNX Pte. Ltd. # Singapore Providing inventory management and 100 – procurement systems * Audited by firms of auditors other than Ernst & Young # Audited by affiliates of Ernst & Young PLT Malaysia ^ Listed on the Main Board of Bursa Malaysia Securities Berhad 40. ASSOCIATES AND ACTIVITIES Effective interest Country of Principal held (%) Name of company incorporation activities 2019 2018 MISC Agencies Lanka Pte. Ltd. Sri Lanka In liquidation 40 40 Nikorma Transport Limited Nigeria LNG transportation 30 30 Eaglestar Marine (Philippines) Philippines Recruitment and provision of manpower 24 24 Corporation (formerly known as for maritime vessels Eagle Star Crew Management Corporation) 41. JOINT ARRANGEMENTS AND ACTIVITIES (a) Joint ventures and activities Effective interest Country of Principal held (%) Name of company incorporation activities 2019 2018 Malaysia Vietnam Offshore Malaysia FSO owner 51 51 Terminal (L) Ltd. **** Vietnam Offshore Floating Malaysia FPSO owner 40 40 Terminal (Ruby) Ltd. *** MMHE-TPGM Sdn. Bhd. *** Malaysia Dormant 40 40 MMHE-ATB Sdn. Bhd. *** Malaysia Dormant 27 27 Technip MHB Hull Engineering Malaysia Dormant 33 33 Sdn. Bhd. *** SL-MISC International Sudan In liquidation 49 49 Line Co. Ltd. *** SBM Systems Inc.*** Switzerland FPSO owner 49 49 FPSO Brasil Venture S.A.*** Switzerland Investment and offshore activities 49 49 SBM Operacoes Ltda. *** Brazil Operating and maintaining FPSO terminals 49 49 Operacoes Maritimas em Mar Brazil Operation and maintenance of FPSO 49 49 Profundo Brasileiro Ltda. *** NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 368 369