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ENRICHING STAKEHOLDER ASPIRATIONS ENRICHING PERFORMANCE ENRICHING THE COMMUNITY ENRICHING ACCOUNTABILITY & INTEGRITY ENRICHING RESILIENCE & SUSTAINABLE GROWTH

notes to tHe financial statements

for the year ended 31 december 2023

12. iNVESTMENT iN ASSOCiATES (CONTiNUED)
details of the associates of KWap, with the country of incorporation are as follows:

Effective
Country Of Ownership
incorporation/ interest Accounting
Principal Place 2023 2022 Model
Name Of Business % % Applied Principal Activities

aerodyne Ventures sdn. bhd. malaysia 5.83 6.67 equity method software and services
edotco group sdn. bhd. malaysia 5.29 5.29 equity method communications
infrastructure
Vantage solar investment s.á.r.l luxembourg 45.00 45.00 equity method solar independent
power producer
asia pacific education group malaysia 20.70 - equity method education

aerodyne Ventures sdn. bhd. and edotco group sdn. bhd. were deemed as associates of the group based on the
existence of significant influence in the entities. the mfrs 128 defines significant influence as the power to participate
in the financial and operating policy decisions of the investee but not control or joint control of those policies.

details of the associates of KWest sdn. bhd., with the country of incorporation are as follows:
Effective
Country Of Ownership
incorporation/ interest Accounting
Principal Place 2023 2022 Model
Name Of Business % % Applied Principal Activities

compass ip sdn. bhd. malaysia 20.00 20.00 equity method property development

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