7. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Details of the subsidiaries are as follows: (continued) Principal place of business/ Effective country of ownership interest Name of subsidiary incorporation Principal activities 31.12.2024 31.12.2023 % % Information Technology DNeX Solutions Sdn. Bhd. Malaysia Providing expertise in IT project management and consultancy, supply of (ICT) hardware equipment, maintenance and asset management. 100 100 DNeX Capital Sdn. Bhd. Malaysia Intended for Trust, funds or similar entity not elsewhere classified. 100 100 DNeX Mena Sdn. Bhd. Malaysia Investment holding. 100 100 DNeX (Beijing) Technology People’ Information transmission, software and 100 100 Co. Ltd. ****^ Republic information technology services. of China Yet to commence business. Energy DNeX Energy Sdn. Bhd. Malaysia Investment holding in upstream oil and gas 100 100 exploration and production. Ping Petroleum Bermuda Exploration, development and production of crude 90 90 Limited *****~ oil and natural gas and investment holding. Ping Petroleum England and Wales Exploration and development of upstream UK PLC ******~ oil and gas assets. 90 90 Ping Petroleum Malaysia Exploration and development of upstream 90 90 Sdn. Bhd. ****** oil and gas assets. Ping Energy Marketing Federal Yet to commence business. 100 - Limited *****ααα Territory of Labuan, Malaysia OGPC Sdn. Bhd. Malaysia Sale of oil and gas related equipment, provision 100 100 of engineering and technical support services for the oil and gas industry. **** This subsidiary’s interest is held under DNeX Mena Sdn. Bhd.. ^ First set of audited financial statements has not been prepared. ***** These subsidiaries’ interests are held under DNeX Energy Sdn. Bhd.. ****** These subsidiaries’ interests are held under Ping Petroleum Limited. ~ These subsidiaries were audited by member firms of Crowe Global of which Crowe Malaysia PLT is a member. ααα Incorporated on 26 June 2024. The financial effects arising from incorporation were not presented in the financial statements as they were not material to the Group. 149 Financial Statements DAGANG NeXCHANGE BERHAD Integrated Report 2024 NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024
RkJQdWJsaXNoZXIy NDgzMzc=