FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) ANNUAL REPORT 2024 95 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 12. RIGHT-OF-USE ASSETS (CONT’D) (a) The leasing activities of the remaining lease assets are summarised below: (i) Leasehold land The Group has entered into 9 (2023: 8) non-cancellable operating lease agreements for the use of land. The leases are for a period ranging from 7 to 60 (2023: 7 to 60) years. The leases do not allow the Group to assign, transfer or sublease or create any charge, lien or trust in respect of or dispose of the whole or any part of the land. A tenancy is, however, allowed with the consent of the lessor. (ii) Factories and buildings and motor vehicles The Group has leased a number of factories and buildings, and motor vehicles that run between 1 and 5 (2023: 1 and 5) years, with an option to renew the lease after that date. (b) The leasehold land at carrying amount of RM5,928,781 (2023: RM6,924,781) is pledged as securities for the bank facilities granted to the Group. 13. INVESTMENTS IN SUBSIDIARIES The Company 2024 2023 RM RM Unquoted shares, at cost: At 1 January 154,578,728 154,517,895 Addition during the year - 279,113 Repayment from subsidiaries for share grant plan - (218,280) 154,578,728 154,578,728 Accumulated impairment losses (987,241) (987,241) At 31 December 153,591,487 153,591,487 The details of the subsidiaries are as follows: Name of Subsidiaries Principal Place of Business/ Country of Incorporation Percentage of Issued Share Capital Held by Parent Principal Activities 2024 2023 % % Subsidiaries of the Company Frontken Malaysia Sdn. Bhd. (“FMSB”) Malaysia 100 100 Provision of surface treatment technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works. Frontken (Singapore) Pte. Ltd. (“FSPL”) Singapore 100 100 Provision of surface treatment technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works.
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