Financial Statements Notes to the Financial Statements 39. ASSOCIATES Details of associates are as follows: Name of associate Place of incorporation and business Principal activities Effective ownership interest and voting interest 2024 % 2023 % Indirect associates Held through Gleneagles Medical Holdings Limited: PT Tritunggal Sentra Utama Surabaya Indonesia Provision of medical diagnostic services 30.00 30.00 Asia Renal Care Mt Elizabeth Pte. Ltd. Singapore Provision of dialysis services and medical consultancy services 20.00 20.00 Asia Renal Care (Katong) Pte. Ltd. Singapore Provision of dialysis services and medical consultancy services 20.00 20.00 Held through Medi-Rad Associates Ltd.: Positron Tracers Pte. Ltd. Singapore Ownership and operation of a cyclotron for production of radioactive tracers 33.00 33.00 Held through Fortis Healthcare International Limited: RHT Health Trust (1) Singapore Under members voluntary liquidation 8.67 8.67 Held through Fortis Asia Healthcare Pte. Ltd.: Lanka Hospitals Corporation PLC Sri Lanka Operates a multi-specialty hospital 8.93 8.93 Held through Parkway Holdings Limited: Gleneagles JPMC Sdn. Bhd. Brunei Darussalam Management and operation of a cardiac and cardiothoracic care centre 30.00 30.00 1 Fortis Healthcare International Limited holds 25.14% shares in RHT Health Trust. The other 2.68% is held by RHT Health Trust Manager Pte. Limited. RHT Heath Trust was delisted from the Official List of the SGX-ST on 31 January 2024, and is currently under liquidation process. IHH Healthcare Berhad | Annual Report 2024 234
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