132 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 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 2023 % 2022 % 2023 % 2022 % 2023 % 2022 % 2023 % 2022 % Indirect subsidiaries (continued) Subsidiaries of FGV Palm Industries Sdn. Bhd. (continued) Delima Oil Products Sdn. Bhd. Malaysia Manufacture of other food products N.E.C, wholesale of paddy, rice, flour, other grains and sugar and export and import of other foodstuffs - - 72.0 72.0 28.0 28.0 - - FGV Marketing Services Sdn. Bhd. Malaysia Marketing of FGV Holdings Berhad group of companies’ commodity products - - 36.7 36.7 63.3 63.3 - - FNI Biofuel Sdn. Bhd. * Malaysia Manufacturing of biomass fuel from empty fruit bunch - - 72.0 72.0 28.0 28.0 - - Subsidiary of FGV Marketing Services Sdn. Bhd. PT. Cashgrow Ventures # Indonesia Commodity trading - - 34.9 34.9 65.1 65.1 - -
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