Green Technology Annual Report

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 5. INVESTMENT IN SUBSIDIARIES The Company 2019 RM 2018 RM Unquoted shares, at cost 2,500,000 2,500,000 The details of the subsidiaries are as follows:- Name of Subsidiaries Principal Place of Business/ Country of Incorporation Percentage of Issued Share Capital Held by Parent Principal Activities 2019 % 2018 % Subsidiary of the Company Greentech Malaysia Alliances Sdn. Bhd. (“GTMA”) Malaysia 100 100 Engaged in investment holding and business as promoters of green technology development. Subsidiaries of GTMA Greentech Ideaslab Sdn. Bhd. Malaysia 100 100 Dormant. Greentech Catalyst Sdn. Bhd. Malaysia 100 100 Dormant. 6. INVESTMENT IN A JOINT VENTURE The Group 2019 RM 2018 RM Unquoted shares, at cost – 30,000 Share of post-acquisition losses – (24,827) – 5,173 The details of the joint venture are as follows:- Name of Joint Venture Principle Place of Business Effective Equity Interest Principal Activity 2019 % 2018 % Kloth Lifestyle Sdn. Bhd. * Malaysia – 30 Sales of sustainable products made from recycled polyster. * During the current financial year, the Group has disposed of its equity interest of this joint venture. In the previous financial year:- (a) The Group’s involvement in joint arrangements was structured through separate vehicles which provided the Company rights to the net assets of the entities. Accordingly, the Group had classified this investment as joint venture. 118 MALAYSIAN GREEN TECHNOLOGY & CLIMATE CHANGE CENTRE ANNUAL REPORT 2019