Fraser & Neave Holdings Bhd Annual Report 2020

185 06 financial statements ANNUAL REPORT 2020 Notes to The Financial Statements (Cont’d.) 8. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Name of company Country of incorporation and place of business Principal activity/Nature of relationship Effective ownership and voting interest (%) 2020 2019 Subsidiaries of Fraser & Neave Holdings Bhd (continued) 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 Elsinburg Holdings Sdn Bhd Malaysia Inactive 100 100 F&N AgriValley Sdn Bhd Malaysia Inactive 100 100 F&N Dairies (Malaysia) Sdn Bhd Malaysia Inactive 100 100 Lion Share Management Limited British Virgin Islands Inactive 100 100 Premier Milk (Malaya) Sdn Berhad Malaysia Inactive 100 100 Wimanis 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 Subsidiary of Fraser & Neave (Malaya) Sdn Bhd Fraser and Neave MENA DWC-LLC (ii) United Arab Emirates Inactive 100 – (i) Audited by other member firms of KPMG PLT. (ii) Not audited by KPMG PLT. The Group concluded that Lettricia Corporation Sdn Bhd, the subsidiary with non-controlling interest, is not material to the Group. 9. INVESTMENT IN AN ASSOCIATE Group Company 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 At cost Quoted shares 68,727 68,727 68,727 68,727 Share of post-acquisition reserves 73,119 65,295 – – Dividends received (50,585) (44,364) – – 91,261 89,658 68,727 68,727