Notes to the Financial Statements Registration No. 200301030845 (633265-K) - 78 - 6. Investment in Subsidiaries (Cont’d) Details of the subsidiaries are as follows: (Cont’d) Place of Business Name of company 2022 2021 Principal activities % % Effective / Country of equity interest Incorporation Held through Destini Rail Sdn Bhd DLP Rail Sdn. Bhd. 100 100 Dormant M Rail Technics Sdn. Bhd. 70 70 Dormant Held through Destini Armada Pte. Ltd.: (Cont'd) Vanguarde Pte. Ltd.* 100 100 Importer and exporter of life boats and life saving TF Corp Pte. Ltd.* 100 100 Investment holding PT Destini Marina 99.9 99.9 Provision of jetty/port Perkasa* operations related services to companies involved with mining activities Held through Vanguarde Pte. Ltd.: Vanguarde Offshore 100 100 Importer and exporter of Pte. Ltd.* marine equipment and accessories Vanguard (Nantong) 100 100 Manufacturing of life boats F.R.P. Co. Ltd.* and life saving appliances Vanguard Safety 100 100 General merchants and Technologies business in oil and gas Sdn. Bhd. Vanguarde Marine 100 100 Dormant Engine Pte. Ltd. Singapore Malaysia Malaysia Singapore People's Republic of China Indonesia Singapore Malaysia Singapore 156 DESTINI BERHAD ANNUAL REPORT 2022
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