My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 164 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 5. INVESTMENTS IN SUBSIDIARIES (CONT’D) ^ This subsidiary was unaudited as at the financial year end. The subsidiary’s financial statements are not material to the Group. This subsidiary was not audited by Crowe Malaysia PLT in the financial period 2019. * There is no audit carried out on the financial statements of the subsidiary for the financial year as it was incorporated on 10 August 2020. The subsidiary’s financial statements are not material to the Group. # There is no audit carried out on the financial statements of the subsidiary for the financial year as it was incorporated on 25 August 2020. The subsidiary’s financial statements are not material to the Group. (a) During the financial year:- (i) On 10 March 2020, MLSB incorporated a wholly-owned subsidiary with 1,000 ordinary shares, representing 100% of equity interest in MYEGFWA for a total consideration of RM100. (ii) On 3 June 2020, MYEGC incorporated a wholly-owned subsidiary with 100 ordinary shares, representing 100% of equity interest in MYEGM for a total consideration of RM100. (iii) On 23 July 2020, EGSB subscribed for an additional 499,999 ordinary shares, representing 100% of equity interest in MYAA for a total consideration of RM499,999. (iv) On 10 August 2020, the Company incorporated a wholly-owned subsidiary with 1,000,000 ordinary shares, representing 100% of equity interest in MYEGDI for a total consideration of RM1,000,000. (v) On 25 August 2020, MYEGM incorporated a wholly-owned subsidiary with 2 ordinary shares, representing 100% of equity interest in MYEGPHA for a total consideration of RM2. (vi) On 31 October 2020, MYEGC subscribed for an additional 5,000,000 ordinary shares, representing 100% of equity interest in MYEGM for a total consideration of RM5,000,000. (vii) On 31 December 2020, MYEGC subscribed for an additional 1,500,000 ordinary shares, representing 100% of equity interest in MYEGAD for a total consideration of RM1,500,000. (viii) On 31 December 2020, EGSB subscribed for an additional 2,000,000 ordinary shares, representing 100% of equity interest in MTSB for a total consideration of RM2,000,000. (ix) On 31 December 2020, EGSB subscribed for an additional 2,000,000 ordinary shares, representing 100% of equity interest in MYAA for a total consideration of RM2,500,000. (b) In the previous financial period:- (i) On 1 October 2018, MYEGC incorporated a wholly-owned subsidiary with 100 ordinary shares, representing 100% of equity interest in MYEGE for a total consideration of RM100. (ii) On 8 October 2018, MYEGC incorporated a wholly-owned subsidiary with 100 ordinary shares, representing 100% of equity interest in PayMe for a total consideration of RM100. (iii) On 15 November 2018, MYEGC subscribed for an additional 59,994 ordinary shares, representing 60% of equity interest in Hurr Tv for a total consideration of RM59,994. (iv) On 26 June 2019, MYEGC incorporated a wholly-owned subsidiary with 10 ordinary shares, representing 100% of equity interest in MYEGIF for a total consideration of RM10. On 23 October 2019, MYEGC subscribed for an additional 1,999,990 ordinary shares of RM1 each, representing 100% of equity interest in MYEGIF for a total consideration of RM1,999,990. (v) On 30 June 2019, the Company subscribed for an additional 1,999,999 ordinary shares, representing 100% of equity interest in MYEGI for a total cash consideration of RM1,999,999. (vi) On 19 July 2019, MYEGC subscribed for an additional 10,000,000 ordinary shares, representing 83% of equity interest in MYEGFT for a total consideration of RM10,000,000.