18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) Details of the subsidiaries are as follows: (cont’d.) Name of subsidiaries Country of incorporation Principal activities Effective interest held by the Group# Effective interest held by non-controlling interests# 2025 % 2024 % 2025 % 2024 % Subsidiary of TPSLSB: Tencomurni Sdn Bhd Malaysia Timber and logging 100 100 - - Tropicana Plaza Sdn Bhd (“TPLSB”) Malaysia Property investment and investment holding 100 100 - - Subsidiary of TPLSB: Mesatria Sdn Bhd Malaysia Timber and logging 100 100 - - Tropicana Property Services Sdn Bhd^ Malaysia Investment holding - 100 - - Tropicana Saujana Sdn Bhd (“TSSB”) Malaysia Investment holding 100 100 - - Subsidiary of TSSB: Alam Tiasa Sdn Bhd Malaysia Timber and logging 100 100 - - Myxon (M) Sdn Bhd Malaysia Construction 100 100 - - Pavillion Palace Sdn Bhd Malaysia Investment holding 100 - - - Pixelcloud Sdn Bhd (“PSB”) Malaysia Investment holding 100 100 - - Subsidiary of PSB: Cenang Resort Sdn Bhd Malaysia Property investment and property development 100 100 - - 301
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