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 TMSB: Tropicana Gems Education Sdn Bhd Malaysia Property investment 100 100 - - Tropicana New Energy Technology Sdn Bhd Malaysia Installation of non-electric solar energy collectors 100 100 - - Tropicana Privilege (M) Sdn Bhd Malaysia Loyalty programme 100 100 - - Tropicana Properties (Klang) Sdn Bhd Malaysia Property investment 100 100 - - Tropicana Properties (Sabah) Sdn Bhd Malaysia Property investment 100 100 - - Tropicana Properties (Sandakan) Sdn Bhd Malaysia Property investment 100 100 - - Tropicana Property Management Sdn Bhd Malaysia Property management services 100 100 - - Tropicana Rahang Development Sdn Bhd Malaysia Investment holding 100 100 - - Tropicana Residences Sdn Bhd Malaysia Hotel operations, property development and property investment 100 100 - - Tropicana Resort Holding Sdn Bhd (“TRHSB”) Malaysia Investment holding 100 100 - - 311
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