Fraser & Neave Holdings Bhd Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 06 Financial Statements 173 NOTES TO THE FINANCIAL STATEMENTS 7. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Name of company Country of incorporation and place of business Principal activities Effective ownership and voting interest (%) 2019 2018 Subsidiaries of Fraser & Neave Holdings Bhd (continued) Lion Share Management Limited British Virgin Islands Brand owner 100 100 Fraser & Neave (Malaya) Sdn Bhd Malaysia Sale of soft drinks and dairy products, provision of management service and property investment holdings 100 100 F&N Capital Sdn Bhd Malaysia Provision of financial and treasury services 100 100 F&N Properties Sdn Bhd Malaysia Provision of property management services 100 100 Greenclipper Corporation Sdn Bhd Malaysia Property development 100 100 Lettricia Corporation Sdn Bhd Malaysia Property development 70 70 Tropical League Sdn Bhd Malaysia Property development 100 100 Nuvak Company Sdn Bhd Malaysia Property development 100 100 Utas Mutiara Sdn Bhd Malaysia Property investment holding 100 100 F&N Dairies (Malaysia) Sdn Bhd Malaysia Inactive 100 100 Premier Milk (Malaya) Sdn Berhad Malaysia Inactive 100 100 Elsinburg Holdings Sdn Bhd Malaysia Inactive 100 100 Wimanis Sdn Bhd Malaysia Inactive 100 100 F&N AgriValley Sdn Bhd (formerly known as Rimba Perkasa Sdn Bhd) Malaysia Inactive 100 – Subsidiary of F&N Beverages Manufacturing Sdn Bhd Borneo Springs Sdn Bhd Malaysia Manufacturing and sale of mineral water, drinking water and rental of dispensers 100 100 (i) Audited by other member firms of KPMG PLT. The Group concluded that Lettricia Corporation Sdn Bhd, the subsidiary with non-controlling interest, is not material to the Group. 8. INVESTMENT IN AN ASSOCIATE Group Company 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 At cost Quoted shares 68,727 68,727 68,727 68,727 Share of post-acquisition reserves 65,295 56,156 – – Dividends received (44,364) (40,631) – – 89,658 84,252 68,727 68,727