NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 7. INVESTMENT IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows: (cont’d) Name of Company Place of business /Country of incorporation Effective interest (%) Principal activities 2023 2022 Subsidiary of NFT Capital NFT Creative Sdn. Bhd. (“NFT Creative”) Malaysia 100 100 To carry on the business of providing solutions and technical services and support related to application and software development. Subsidiary of MYDC Zetrix Sdn. Bhd. (“Zetrix”) Malaysia 56 56 Development and provision of distributed ledger technology and solutions related products and services. Subsidiary of ZLTD Zetrix SG Pte. Ltd. (“ZSG”) * Singapore 100 - Investment holding. ^ These subsidiaries were consolidated using the unaudited management accounts of which the financial statements are not material to the Group. * The subsidiary was incorporated during the financial year. The subsidiary was consolidated using the unaudited management accounts of which the financial statements are not material to the Group. # The non-controlling interest in PTMYEG has agreed to forgo his entitlement and shares to the net assets and profits of PTMYEG. Accordingly, the Group has not recognised any share of non-controlling interests in the statement of comprehensive income and statement of financial position for PTMYEG. (a) Incorporation of subsidiaries During the financial year (i) On 7 March 2023, MLSB incorporated a wholly-owned subsidiary with 100 ordinary shares; representing 100% of equity interest in MYEGMUAR for a total consideration of RM100. (ii) On 28 July 2023, MLSB incorporated a wholly-owned subsidiary with 500,000 ordinary shares; representing 100% of equity interest in MYEGNC for a total consideration of RM500,000. (iii) On 4 October 2023, ZLTD incorporated a wholly-owned subsidiary with 100 ordinary shares; representing 100% of equity interest in ZSG for a total consideration of SGD100 (equivalent to RM349). ANNUAL REPORT 2023 207 ^ These subsidiaries were consolidated using the unaudited management accounts of which the financial statements are # The non-controlling interest in PTMYEG has agreed to forgo his entitlement and shares to the net assets and profits (a) Incorporation of subsidiaries FINANCIAL STATEMENTS
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