NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 5. INVESTMENT IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows (Cont’d):- PRINCIPAL PERCENTAGE PLACE OF OF ISSUED BUSINESS/ SHARE CAPITAL COUNTRY OF HELD BY PARENT NAME OF SUBSIDIARIES INCORPORATION 2024 2023 PRINCIPAL ACTIVITIES % % 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 Subsidiaries of Matrix Development (Australia) Pty Ltd Matrix 333 St Kilda (Australia) Pty Ltd @ Australia 100 100 Property development Matrix Greenvale (Australia) Pty Ltd @ Australia 100 100 Property development Matrix Property Management (Australia) Pty Ltd @ Australia 100 100 Management of defect works and rental guarantees for completed group property development @ These subsidiaries were audited by other firm of chartered accountant. (i) During the financial year:- (a) the Company has disposed of its entire equity interest in Megah Sedaya Sdn. Bhd. to MCHB Development (NS) Sdn. Bhd., a wholly-owned subsidiary of the Company. (b) MCHB Development (NS) Sdn. Bhd., a wholly-owned subsidiary of the Company subscribed 99 new ordinary shares in Megah Sedaya Sdn. Bhd. for a total cash consideration of RM99. (ii) In the previous financial year:- (a) the Company subscribed 1 new ordinary share in Megah Sedaya Sdn. Bhd. for a total cash consideration of RM1; (b) the Company subscribed 100 new ordinary shares in Matrix Sino Development Sdn. Bhd. for a total cash consideration of RM100; (c) the Company subscribed 46,000,000 new redeemable preference shares in N9 Matrix Development Sdn. Bhd. for a total cash consideration of RM46,000,000; and (d) MCHB Development (NS) Sdn. Bhd., a wholly-owned subsidiary of the Company subscribed 850,000 new ordinary shares in N9 Matrix Development Sdn. Bhd., for a total cash consideration of RM850,000. FINANCIAL STATEMENTS 167 INTEGRATED ANNUAL REPORT 2024
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