NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 5. INVESTMENT IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows (Cont’d):- Name of Subsidiaries Principal Place of Business/Country of Incorporation Percentage of Issued Share Capital Held by Parent Principal Activities 2023 2022 % % Subsidiaries of Matrix Excelbuilder Sdn. Bhd. Matrix Excelcon Sdn. Bhd. Malaysia 100 100 General contractors Matrix Exceltrading Sdn. Bhd. Malaysia 100 100 Dormant Subsidiary of MCHB Development (NS) Sdn. Bhd. N9 Matrix Development Sdn. Bhd. Malaysia 85 - Property development Subsidiary of Masuda Corporation Sdn. Bhd. Matrix Project Management Sdn. Bhd. Malaysia 100 100 Dormant Subsidiaries of Matrix Concepts Sdn. Bhd. Matrix Country Club Sdn. Bhd. Malaysia 100 100 Clubhouse operator Matrix Hotels Management Sdn. Bhd. Malaysia 100 100 Hotel management and hospitality services Subsidiary of MGE Development Sdn. Bhd. Matrix Educare Sdn. Bhd. Malaysia 51 51 Provision of education services Subsidiary of Matrix Concepts (Central) Sdn. Bhd. Matrix Concepts (Cheras) Sdn. Bhd. Malaysia 100 100 Property development Subsidiary of Matrix Healthcare Sdn. Bhd. Matrix Medicare Sdn. Bhd. Malaysia 70 70 Provision of healthcare services INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 175
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