Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 236 237 Integrated Annual Report 2023 Notes to the Financial Statements Notes to the Financial Statements 7. INVESTMENTS IN SUBSIDIARIES Note Company 2023 RM’000 2022 RM’000 Cost of investment 1,946,967 1,946,967 Less: Impairment loss 7.3 (749,733) (749,733) 1,197,234 1,197,234 Details of the subsidiaries are as follows: Name of entity Principal place of business/ Country of incorporation Principal activities Effective ownership interest and voting interest 2023 % 2022 % Direct subsidiaries of the Company: Press Metal Bintulu Sdn. Bhd. (“PMBTU”) Malaysia Manufacturing and trading of aluminium products and marketing of share of alumina produced 80.0 80.0 Press Metal Sarawak Sdn. Bhd. (“PMS”) Malaysia Manufacturing and trading of aluminium products 80.0 80.0 Press Metal (Labuan) Ltd. (“PMLL”) Malaysia Investment holding and to acquire or hold any securities 100.0 100.0 PMIM Extrusion Sdn. Bhd. (“PMIM”) Malaysia Investment holding 100.0 100.0 Angkasa Jasa Sdn. Bhd. (“AJSB”) Malaysia Contracting and fabrication of aluminium and stainless steel products 100.0 100.0 Press Metal (HK) Limited (“PMHK”)* Hong Kong Investment holding 100.0 100.0 Direct subsidiary of PMBTU: Press Metal Aluminium Rods Sdn. Bhd. (“PMAR”) Malaysia Manufacturing and trading of aluminium products 80.0 80.0 Direct subsidiary of PMIM: Press Metal Berhad (“PMB”) Malaysia Manufacturing and trading of aluminium products and investment holding 100.0 100.0 Direct subsidiary of PMHK: Press Metal International Limited (“PMI”)*# China Manufacturing and trading of aluminium products and investment holding 88.3 92.4 7. INVESTMENTS IN SUBSIDIARIES (CONT’D) Details of the subsidiaries are as follows: (cont’d) Name of entity Principal place of business/ Country of incorporation Principal activities Effective ownership interest and voting interest 2023 % 2022 % Direct subsidiaries of PMI: Press Metal International Technology Ltd. (“PMIT”)*# China Manufacturing and trading of aluminium products 88.3 92.4 Press Metal Precision Technology Co. Ltd.*#^ China Manufacturing and trading of aluminium products 88.3 92.4 Press Metal International (HK) Limited (“PMIHK”)*# Hong Kong Investment holding 88.3 92.4 Foshan Baiwen New Energy Co., Ltd.*# China Marketing and trading of photovoltaic generation system and supply of electricity 88.3 92.4 Direct subsidiaries of PMIHK: Press Metal UK Limited (“PMUK”)*# United Kingdom Marketing of aluminium products 88.3 92.4 PMB Aluminium Sdn. Bhd. (“PMBA”)# Malaysia Manufacturing and trading of aluminium products and investment holding 88.3 92.4 Direct subsidiaries of PMUK: Press Metal Aluminium (Australia) Pty. Ltd.*# Australia Marketing of aluminium products 88.3 92.4 Press Metal North America Inc.*# United States of America Marketing of aluminium products 88.3 92.4 Direct subsidiaries of PMBA: PMB Central Sdn. Bhd.# Malaysia Marketing of gypsum boards, aluminium extrusion and other related products 88.3 92.4 PMB Northern Sdn. Bhd.# Malaysia Marketing of aluminium and other related products 88.3 92.4 PMB Eastern Sdn. Bhd.# Malaysia Marketing of gypsum boards and other related products 88.3 92.4 PMB Aluminium Sabah Sdn. Bhd.# Malaysia Marketing of all types of aluminium sections, gypsum boards and other related products 88.3 92.4
RkJQdWJsaXNoZXIy NDgzMzc=