NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) FINANCIAL STATEMENTS 8. Investment in subsidiaries (CONT’D) The details of the subsidiaries are as follows: (cont’d) Name of Company Place of business /Country of incorporation Effective interest % Principal Activities 2022 2021 Subsidiary of NFT Capital NFT Creative Sdn. Bhd. (“NFT Creative”) Malaysia 100 100 Provision of solutions and technical services and support related to application and software development. Subsidiary of MYDC Zetrix Sdn. Bhd. (“Zetrix”) Malaysia 56 56 Development and provision of distributed ledger technology and solutions related products and services. ^ The subsidiary was unaudited as the financial year end. The subsidiary’s financial statement are not material to the Group. The subsidiary was not audited by TGS TW PLT in the financial year 31 December 2022. * There is no audit carried out on the financial statements of the subsidiary for the financial year as it is incorporated during the financial year. The subsidiary’s financial statements are not material to the Group. 2022 Incorporation of subsidiaries (a) On 17 March 2022, MYEGI incorporated a wholly-owned subsidiary with 50,000 ordinary shares; representing 100% of equity interest in Zetrix Ltd for a total consideration of RM211,150. (b) On 5 August 2022, MYEGI incorporated a wholly-owned subsidiary with 1 ordinary shares; representing 100% of equity interest in Zetrix Foundation for a total consideration of RM5. (c) On 19 September 2022, MYEGI incorporated a wholly-owned subsidiary with 1,000,000 ordinary shares; representing 100% of equity interest in Zetrix China for a total consideration of RM892,080. 2021 Incorporation of subsidiaries (a) On 18 March 2021, EGSB incorporated a wholly-owned subsidiary with 2 ordinary shares, representing 100% of equity interest in MYEG TwoCar for a total consideration of RM2. (b) On 21 June 2021, MYEGM incorporated a wholly-owned subsidiary with 2 ordinary shares, representing 100% of equity interest in MYEG VAC for a total consideration of RM2. (c) On 25 June 2021, MYEGI incorporated a wholly-owned subsidiary with 2 ordinary shares, representing 100% of equity interest in MYEGT for a total consideration of RM2. (d) On 3 August 2021, MYEGC incorporated a subsidiary by subscribing 51 ordinary shares, representing 51% of equity interest in NFTPT for a total consideration of RM51. (e) On 7 September 2021, MYDC incorporated a wholly-owned subsidiary with 2 ordinary shares, representing 100% of equity interest in Zetrix for a total consideration of RM2. Subsequently on 17 November 2021, MYDC subscribed for an additional 2,351,998 ordinary shares, representing 56% of equity interest in Zetrix for a total consideration of RM4,199,998. 197
RkJQdWJsaXNoZXIy NDgzMzc=