116 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 23 INVESTMENT IN SUBSIDIARIES (CONTINUED) (a) Details of subsidiaries are as follows: (continued) Name of subsidiary Place of business/ country of incorporation Nature of business Proportion of ordinary shares directly held by FGVH Proportion of ordinary shares held by the Group Proportion of ordinary shares held by non-controlling interests Proportion of RCPS/ RCCPS held by the Group 2022 % 2021 % 2022 % 2021 % 2022 % 2021 % 2022 % 2021 % Indirect subsidiaries (continued) Subsidiaries of Felda Holdings Bhd. (continued) FGV Rubber Industries Sdn. Bhd. Malaysia Processing of raw latex to concentrated latex and Standard Malaysia Rubber (“SMR”), manufacturing, trading and distribution of rubber related products - - 71.4 71.4 28.6 28.6 - - Felda Engineering Services Sdn. Bhd. Malaysia Engineering services including project management, sale of industrial equipment and property management - - 51.0 51.0 49.0 49.0 - -
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