202 F INANC IAL Statements 05 Sect ion Ranhi ll Ut i l i t i es Berhad NOTES TO THE F INANC I AL STATEMENTS For the year ended 31 December 2022 20. INVESTMENT IN SUBSIDIARIES (Contd.) (c) Details of the Company’s subsidiaries are as follows: Name Country of incorporation / Principal place of business Principal Activities % of ownership interest held by the Group^ % of ownership interest held by non-controlling interests^ 2022 2021 2022 2021 Held by the Company: Ranhill Capital Sdn. Bhd. (“RCSB”) 1 Malaysia Investment holding and provision of management services to its subsidiaries. 100 100 - - Ranhill Solar I Sdn. Bhd. 1,6 Malaysia Solar power generation. 100 100 - - Ranhill Management Services Sdn. Bhd. 1,3 Malaysia Provision of management services to Ranhill group of companies. 100 - - - Held by RCSB: SAJ Capital Sdn. Bhd. 1 Malaysia A special purpose vehicle to issue Islamic Medium Term Notes of RM650,000,000 in nominal value based on the Shariah Principle of Murabahah (via Tawarruq Arrangement) (“Sukuk Murabahah”). 100 100 - - Ranhill Solar Ventures Sdn. Bhd. 1,7 Malaysia A special purpose company incorporated to issue Islamic Medium Term Notes and/ or to establish Islamic Medium Term Notes programme. 100 100 - - Ranhill SAJ Sdn. Bhd. 1 Malaysia Integrated water supplier and is principally involved in the abstraction of raw water, treatment of water, distribution and sale of treated water to consumers in the state of Johor pursuant to its migration from services concession arrangement to operating services arrangement. 80 80 20 20 Ranhill Bersekutu Sdn. Bhd. (“RBSB”) 1,12 Malaysia Provision of engineering, procurement and construction management services (EPCM); engineering, procurement, construction and commissioning services (EPCC) and project management services (PMC). 100 100 - - Ranhill Renewables Sdn. Bhd. 1 Malaysia Investment holding and the provision of installation, testing, commissioning, operation and maintenance services of renewable energy projects. 100 100 - - Ranhill Powertron Sdn. Bhd. (“RPI”) 1 Malaysia Independent power producer in Kota Kinabalu, Sabah. 60 60 40 40 Ranhill Powertron II Sdn. Bhd. (“RPII”) 1 Malaysia Independent power producer in Kota Kinabalu Sabah. 80 80 20 20
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