KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED SHAREHOLDERS’ INFORMATION NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 FINANCIAL STATEMENTS ADDITIONAL INFORMATION OUR VALUE CREATION APPROACH 227 226 13. INVESTMENT IN SUBSIDIARIES Bank 2024 RM’000 2023 RM’000 Unquoted shares: At cost 73,064 73,064 Add: Capital injection into subsidiaries 17,000 - Less: Accumulated impairment losses (12,252) (12,252) 77,812 60,812 (i) On 12 December 2024, the Bank injected additional capital of RM15 million to Kenanga Digital Sdn. Bhd., a wholly own subsidiary of the Bank. (ii) On 13 December 2024, the Bank injected additional capital of RM2 million to Kenanga Futures Sdn. Bhd., a wholly own subsidiary of the Bank. Details of the subsidiaries are as follows: Name Principal place of business Principal activities Effective equity interest 2024 % 2023 % Local subsidiaries Kenanga Futures Sdn Bhd Malaysia Futures broker 100 100 Kenanga Nominees (Asing) Sdn Bhd Malaysia Provision of nominee services 100 100 Kenanga Nominees (Tempatan) Sdn Bhd Malaysia Provision of nominee services 100 100 Kenanga Private Equity Sdn Bhd Malaysia Private equity management 100 100 ECML Berhad Malaysia Dormant (previously dealing in securities and derivatives, and provision of corporate finance and other advisory services) 100 100 Kenanga Digital Sdn Bhd Malaysia Online digital platform or portal business and provision of information technology services 100 100 Avenue Kestrel Sdn Bhd Malaysia Dormant (previously a stockbroking business) 100 100 13. INVESTMENT IN SUBSIDIARIES (CONT’D.) Details of the subsidiaries are as follows (cont’d.): Name Principal place of business Principal activities Effective equity interest 2024 % 2023 % Local subsidiaries (cont’d.) K & N Kenanga Holdings Berhad Malaysia Investment holding 100 100 The subsidiary of K & N Kenanga Holdings Berhad is: SSSB Management Services Sdn Bhd Malaysia Dormant (previously a stockbroking business) 100 100 Kenanga Management & Services Sdn Bhd Malaysia Investment in property and provision of management and maintenance services 100 100 Kenanga Investors Berhad Malaysia 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 Malaysia Management of Islamic collective investment schemes and Islamic investment funds 100 100 EQ8 Capital Sdn Bhd (formerly known as i-VCAP Management Sdn Bhd) Malaysia Provision of Shariah-compliant investment management services 100 100 KUT Nominees (Tempatan) Sdn Bhd Malaysia Provision of nominee services 100 100 KUT Nominees (Asing) Sdn Bhd Malaysia Provision of nominee services 100 100 Kenanga Trustees Berhad Malaysia Provision of trustee services 100 100 Kenanga Capital Sdn Bhd Malaysia Licensed money lender 100 100
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