111 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 CONT’D 16. INVESTMENTS IN SUBSIDIARIES Company 2022 2021 RM RM Unquoted shares, at cost 44,336,112 45,416,124 Accumulated impairment losses (15,243,697) (16,740,293) 29,092,415 28,675,831 Equity contributions in subsidiaries in respect of ESS 3,593,586 3,593,586 Accumulated impairment losses (195,225) (195,225) 3,398,361 3,398,361 Advances to subsidiaries 134,399,737 135,919,430 Accumulated impairment losses (9,706,692) (10,631,660) 124,693,045 125,287,770 157,183,821 157,361,962 (a) Investments in subsidiaries, which are eliminated on consolidation, are stated in the separate financial statements of the Company at cost less impairment losses, if any. (b) All components of non-controlling interests shall be measured at their acquisition-date fair values, unless another measurement basis is required by MFRSs. The choice of measurement basis is made on a combination-by-combination basis. Subsequent to initial recognition, the carrying amount of noncontrolling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. (c) Advances to a subsidiary are unsecured, interest-free and settlement is neither planned nor likely to occur in the foreseeable future for the purposes of providing the subsidiary with a long term source of additional capital. (d) The details of the subsidiaries are as follows: Name of company Country of incorporation/ Principal place of business Effective interest in equity Principal activities 2022 2021 % % GHL Transact Sdn. Bhd. # Malaysia 100.00 100.00 Sales and rental of EDC equipment and its related software and services, inclusive of installation, training and maintenance. GHL EFTPOS Sdn. Bhd. # Malaysia 100.00 100.00 Sales and rental of EDC equipment and its related software and services, inclusive of installation, training and maintenance.
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