NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 217 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 13. INVESTMENTS IN SUBSIDIARIES Bank 2023 RM’000 2022 RM’000 Unquoted shares: At cost 73,064 73,064 Less: Accumulated impairment losses (12,252) (12,252) 60,812 60,812 Details of the subsidiaries are as follows: Name Principal activities Effective equity interest 2023 % 2022 % Local subsidiaries Kenanga Futures Sdn Bhd Futures broker 100 100 Kenanga Nominees (Asing) Sdn Bhd Provision of nominee services 100 100 Kenanga Nominees (Tempatan) Sdn Bhd Provision of nominee services 100 100 Kenanga Private Equity Sdn Bhd Private equity management 100 100 ECML Berhad Dealings in securities and derivatives, and provision of corporate finance and other advisory services 100 100 Kenanga Digital Sdn Bhd Online digital platform or portal business and provision of information technology services 100 100 Avenue Kestrel Sdn Bhd Dormant (previously a stock broking business) 100 100 K & N Kenanga Holdings Berhad Investment holding 100 100
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