ANNUAL REPORT 2025 FINANCIAL STATEMENTS Notes to the Financial Statements (Cont’d) For the Financial Year Ended 31 March 2025 154 Name of Subsidiary Principal Place of Business/ Country of Incorporation Percentage of Issued Share Capital Held by Parent Principal Activities 2025 % 2024 % Held by IHSB Innov8tif Solutions Sdn. Bhd. (“ISSB”)^+ Malaysia 51 - Engaged in information communications technology development, development and maintenance service with software trading and services. Xendity Sdn. Bhd. ^+ Malaysia 51 - Engaged in business of development of software and programming activities. Innov8tif Solutions Co., Ltd ^+ Cambodia 51 - Engaged in information technology consultation services. Held by ISSB Innov8tif Technology Sdn. Bhd. ^+ Malaysia 51 - Engaged in information technology and event marketing business. Innov8tif Solutions Pte Ltd ^+ Singapore 51 - Provide IT consultancy and computer services activities. Notes:- @- The subsidiary was audited by a member firm of Crowe Global of which Crowe Malaysia PLT is a member. ^ - These subsidiaries are audited by other firms of chartered accountants. > - No audit is required for this subsidiary as the subsidiary is newly incorporated on 19 March 2025. ~- No audit is required for this subsidiary under New Zealand Companies Act 1993 as the company satisfied the exemption requirements. # - 1% held by a wholly-owned subsidiary, DTSB. $- Although the Company owns less than half of the voting power in DBTP, the Company has control over DBTP by virtue of an agreement with other investors of DBTP. Consequently, DBTP is deemed a subsidiary and the Company consolidates its investment in DBTP. < - The subsidiary has been liquidated under Republic Act No. 11232 on 31 December 2024. + - The newly acquired subsidiaries for the financial period from 1 March 2025 to 31 March 2025 which audited by Crowe Malaysia PLT. (a) During the current financial year, the Company has acquired 51% equity interests in IHSB. The details of the acquisition are disclosed in Note 44. (b) In the previous financial year, the Company has subscribed additional 33,000,000 new ordinary shares in DTSB at an issue price of RM1.00 per ordinary share which amounted to RM33,000,000 by capitalising the amount owing to a subsidiary of RM24,700,000 and cash consideration of RM8,300,000. (c) The non-controlling interests at the end of the financial year comprise the following:- Effective Equity Interest Group 2025 2024 2025 2024 % % RM’000 RM’000 IHSB 49 - 21,111 - Other individually immaterial subsidiaries 60 233 8. INVESTMENTS IN SUBSIDIARIES (CONT’D)
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