AUDITED FINANCIAL STATEMENTS 2022 121 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 23 INVESTMENT IN SUBSIDIARIES (CONTINUED) (a) Details of subsidiaries are as follows: (continued) Name of subsidiary Place of business/ country of incorporation Nature of business Proportion of ordinary shares directly held by FGVH Proportion of ordinary shares held by the Group Proportion of ordinary shares held by non-controlling interests Proportion of RCPS/ RCCPS held by the Group 2022 % 2021 % 2022 % 2021 % 2022 % 2021 % 2022 % 2021 % Indirect subsidiaries (continued) Subsidiary of FGV Research Sdn. Bhd. FGV Applied Technologies Sdn. Bhd. Malaysia Research and Development of mechanisation, automation, milling, biomass, bio and oleo chemicals and food technology - - 100.0 100.0 - - - - Subsidiaries of FGV Integrated Farming Holdings Sdn. Bhd. FGV Dairy Farm Sdn. Bhd. Malaysia Engaged in the business breeding calves for producing milk, genetic improvement, supplying genetic materials and other related services - - 60.0 60.0 40.0 40.0 - -
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