MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 186 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 5. INVESTMENTS IN SUBSIDIARIES (CONT’D) (b) In the previous financial year:- (cont’d) (vii) On 31 December 2020, MYEGC subscribed for an additional 1,500,000 ordinary shares, representing 100% of equity interest in MYEGAD for a total consideration of RM1,500,000. (viii) On 31 December 2020, EGSB subscribed for an additional 2,000,000 ordinary shares, representing 100% of equity interest in MTSB for a total consideration of RM2,000,000. (ix) On 31 December 2020, EGSB subscribed for an additional 2,500,000 ordinary shares, representing 100% of equity interest in MYAA for a total consideration of RM2,500,000. (c) Summarised financial information of non-controlling interests has not been presented as both the current non-controlling interests and future non-controlling interests of the subsidiaries are not individually material to the Group. 6. INVESTMENTS IN ASSOCIATES The Group The Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Unquoted shares, at cost 19,382 15,294 400 400 Share of post-acquisition losses (3,249) (2,484) - - 16,133 12,810 400 400 Accumulated impairment losses - - (400) (400) 16,133 12,810 - - The details of the associates are as follows:- Name of Associate Principal Place of Business Effective Equity Interest Principal Activities 2021 2020 Associate of the Company MY E.G. Integrated Networks Sdn. Bhd. (“MINT”)* Malaysia 40% 40% Provision of software and hardware solutions and related services. Associate of MYEGC My AdMarket Sdn. Bhd. (“MYAM”)* Malaysia 40% 40% Investment holding. Dinamik Koridor Sdn. Bhd. (“DKSB”)* Malaysia 33% 33% Investment holding. Associate of MYEGIND PT Cartenz Inti Utama (“PT Cartenz”)* Indonesia 19% 19% Engaged in development, trading, industry and service. * These associates were audited by other firms of chartered accountants. (a) Although the Group holds less than 20% of the voting power in PT Cartenz, the Group has determined that it has significant influence over the financial and operating policies of the associate through representation on the associate’s board of directors.
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