DESTINI Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS Name of company Place of Business / Country of Incorporation Effective equity interest Principal activities 2019 2018 % % Held through Destini Armada Pte. Ltd.: Vanguarde Pte. Ltd.* Singapore 100 100 Importer and exporter of life boats and life saving appliances TF Corp Pte. Ltd.* Singapore 100 100 Investment holding AMS Marine Pte. Ltd.* Singapore 70 70 Engineering services for marine engine and ship parts Held through Vanguarde Pte. Ltd.: Vanguarde Offshore Pte. Ltd.* Singapore 100 100 Importer and exporter of marine equipment and accessories Vanguard Nantong FRP Co. Ltd.* People Republic of China 100 100 Manufacturing of life boats and life saving appliances Vanguard Safety Technologies Sdn. Bhd. Malaysia 100 100 General merchants and business in oil and gas Vanguarde Marine Engine Pte. Ltd.*. Singapore 100 100 Dormant Held through TF Corp Pte. Ltd.: Techno Fibre Australia Pty. Ltd.* Australia 100 100 Servicing the needs of Shipping and Petroleum Companies and supporting their fleets Techno Fibre Middle East Marine Services FZE* United Arab Emirates 100 100 Providing installation & maintenance of marine equipment Techno Fibre (S) Pte. Ltd.* Singapore 100 100 Fabrication and repair of fibre composite boats Destini Marine Safety Solutions Ltd.* Scotland 60 60 Technical testing and repair and maintenance of analysis TF Corp Saudi Arabia Co. Ltd.* Kingdom of Saudi Arabia 51 51 Providing installation & maintenance of marine equipment Held through AMS Marine Pte. Ltd.: AMS Engineering Solutions Sdn. Bhd. Malaysia 100 100 Building and repairing of ships, tankers and other ocean-going vessels * Subsidiaries not audited by UHY 6. Investments in Subsidiaries (Cont’d) Details of the subsidiaries are as follows: (Cont’d) FINANCIAL STATEMENTS 06 ANNUAL REPORT 2019 141