Integrated Annual Report 2024 SECTION 6 • FINANCIAL STATEMENTS 267 Notes to the Financial Statements 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 2024 % 2023 % Direct subsidiaries of EVERPRESS: Centpro International Trading Co., Ltd. (“CENTPRO”)*& China Importing and exporting of raw materials, machineries, spare parts and other related products 100.0 - Changde Centpro Trading Co., Ltd. (“CHANGDE”)*& China Importing and exporting of raw materials, machineries, spare parts and other related products 100.0 - * Not audited by KPMG PLT. # In December 2024, the Group, via its wholly-owned subsidiary, Press Metal (HK) Limited effectively acquired 0.8% equity interest in a subsidiary, Press Metal International Limited (“PMI”) for a total cash consideration of RMB6,331,000 (equivalent to approximately RM3,885,000), increasing its ownership in PMI and its direct subsidiaries (“collectively known as PMI subgroup”) from 88.3% to 89.1%. @ In May 2024, the Group incorporated a wholly-owned subsidiary known as Press Metal International Resources (HK) Limited with an authorised share capital of HKD100 divided into 100 ordinary shares of HKD1 each. The total issued and paid-up share capital was HKD100 comprising 100 ordinary shares of HKD1 each. % In May 2024, PMB Aluminium Sdn. Bhd. incorporated a wholly-owned subsidiary known as PMBA (Sarawak) Sdn. Bhd. with a total issued and paid-up share capital of RM2 comprising 2 ordinary shares of RM1 each. ^ In October 2024, Press Metal International Resources (HK) Limited completed the acquisition of 80% equity interest in PT Kalimantan Alumina Nusantara (“PTKAN”), based on the share subscription agreement (“SSA”) and the shareholders’ agreement (“SHA”) entered with PT Alakasa Alumina Refineri (“AAR”) and PT Dinamika Sejahtera Mandiri (“DSM”). & In January 2024, Press Metal Berhad completed the acquisition of entire equity interest in Everpress Aluminium Industries Sdn. Bhd. for a total cash consideration of RM5,000,000, effectively gaining ownership in its direct subsidiaries, Centpro International Trading Co., Ltd. and Changde Centpro Trading Co., Ltd.. ^^ In July 2024, Ace Extrusion Sdn. Bhd. received a notice pursuant to Section 551(3) of the Companies Act 2016 from the Companies Commission of Malaysia (“CCM”) that its name had been struck-off from the registrar of companies of CCM.
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