NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 5. INVESTMENT IN SUBSIDIARIES THE COMPANY 2023 RM’000 2022 RM’000 Unquoted shares, at cost 408,680 362,680 Accumulated impairment losses (51,914) (38,784) 356,766 323,896 Unquoted shares, at cost: At 1 April 362,680 293,379 Addition during the year 46,000 71,001 Capital reduction during the year - (1,700) At 31 March 408,680 362,680 Accumulated impairment losses: At 1 April 38,784 8,400 Addition during the year 13,130 30,384 At 31 March 51,914 38,784 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 2023 2022 % % Subsidiaries of the Company Matrix Excelbuilder Sdn. Bhd. Malaysia 100 100 Investment holding Matrix Concepts (Central) Sdn. Bhd. Malaysia 100 100 Property development and investment holding Matrix Concepts (NS) Sdn. Bhd. Malaysia 100 100 Property development MGE Development Sdn. Bhd. Malaysia 100 100 Property development and investment holding INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 173
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