NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 218 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 13. INVESTMENTS IN SUBSIDIARIES (CONT’D.) Details of the subsidiaries are as follows (cont’d.): Name Principal activities Effective equity interest 2023 % 2022 % Local subsidiaries (cont’d.) The subsidiary of K & N Kenanga Holdings Berhad is: SSSB Management Services Sdn Bhd Dormant (previously a stock broking business) 100 100 Kenanga Management & Services Sdn Bhd Investment in property and provision of management and maintenance services 100 100 Kenanga Investors Berhad Promotion and management of collective investment schemes and management of investment funds 100 100 The subsidiaries of Kenanga Investors Berhad are: Kenanga Islamic Investors Berhad Management of Islamic collective investment schemes and Islamic investment funds 100 100 i-VCAP Management Sdn Bhd (“i-VCAP”) Provision of Shariah-compliant investment management services 100 100 KUT Nominees (Tempatan) Sdn Bhd Provision of nominee services 100 100 KUT Nominees (Asing) Sdn Bhd Provision of nominee services 100 100 Kenanga Trustees Berhad ^* (f.k.a. Kenanga Funds Berhad) Provision of trustee services 100 100 Kenanga Capital Sdn Bhd Licensed money lender 100 100 The associate of Kenanga Capital Sdn Bhd is: Kenanga Capital Islamic Sdn Bhd * Islamic factoring and leasing ~ 51 ^ Kenanga Funds Berhad has changed its name to Kenanga Trustees Berhad effective 25 August 2023. * Details of changes in composition of the Group are disclosed in Note 56 (a)(i) and Note 56 (a)(ii). ~ Refer to Note 14 (a).
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