204 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: (contd.) 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 RWTC: AnuRak Water Treatment Facilities Co. Ltd. (“AnuRAK”) 2,11 Thailand To undertake potable water, wastewater and reclaimed water treatment services for domestic and industrial use. 100 100 - - Ranhill Water Technologies (Thai) Ltd. (“RWTT”) 2,11 Thailand To undertake consultancy services, project management, engineering, supply construction and operation for potable and wastewater treatment plant. 49 49 51 51 Held by RWT: KWI (Guangzhou) Environmental Engineering Technology Co. Ltd. 2,4 China Ceased operations. 51 51 49 49 Top Zone Solutions Sdn. Bhd. 1 Malaysia To undertake construction, structural, civil, engineering, electrical and mechanical work for potable water and wastewater treatment plant operation. The company has ceased its business operation since financial year ended 31 December 2018. 100 100 - - ^ Equals to the proportion of voting rights held 1 Audited by Deloitte PLT, Malaysia and its affiliates 2 Audited by firm other than Deloitte 3 Incorporated on 21.06.2022 4 According to China’s National Enterprise Credit Information Publicity System, KWI (Guangzhou) Environmental Engineering Technology Co. Ltd. had been revoked on 02.08.2005 5 On 19.08.2022, the Group completed the acquisition of 49% PRW shares of 2,499,000 at total purchase consideration of RM3 6 Incorporated on 30.04.2021 7 Incorporated on 14.10.2021 8 Pursuant to the Scheme of Amalgamation (“SoA”), on 23.12.2021, the equity interest held by Ranhill Capital Sdn. Bhd. (“RCSB”) in Ranhill Worley Sdn. Bhd. (“RWSB”) was transferred to Ranhill Bersekutu Sdn. Bhd. (“RBSB”) 9 Pursuant to the SoA, on 09.11.2021, the equity interest held by RCSB in Ranhill Power O&M Sdn. Bhd., Ranhill Power II O&M Sdn. Bhd. and Ranhill Water Services Sdn. Bhd. respectively were transferred to RBSB 10 Pursuant to the SoA, on 09.11.2021, the equity interest held by Ranhill Water Technologies (Cayman) Ltd. in Ranhill Water Technologies Sdn. Bhd. was transferred to RBSB 11 Pursuant to the SoA, on 01.11.2021, the equity interest held by RWT in the Thailand companies i.e. AnuRAK and RWTT respectively were transferred to RWTC 12 On 16.07.2021, the Group completed the acquisition of (i) 100% of RBSB’s shares of 15,346,170 at total purchase consideration of RM69,171,053 and (ii) 51% of RWSB’s shares of 4,488,309 at total purchase consideration of RM86,915,408 13 The financial statements of these companies are exempted from audit for financial year ended 31 December 2022 and 31 December 2021.
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