Dagang NeXchange Berhad Annual Report 2018

6. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Details of the subsidiaries are as follows (continued): Principal place of business/ Effective country of ownership interest Name of subsidiary incorporation Principal activities 2018 2017 % % Energy Forward Energy Federal Territory Design, develop, construct, operation and maintenance 100 51 Generation Ltd. ~ of Labuan, Malaysia of power plant. DNeX Oilfield Services Malaysia Involved in oil and gas oilfield services including 80 80 Sdn. Bhd. supplies of products and equipment. OGPC Sdn. Bhd. Malaysia Sale of oil and gas related equipment, provision of 100 100 engineering and technical support services for the oil and gas industry. OGPC O & G Sdn. Bhd. Malaysia Sale of oil and gas related equipment, provision of 100 100 engineering and technical support services for the oil and gas industry. DNeX Clean Utilities Malaysia Yet to commence business. 100 - Sdn. Bhd.@## @ The subsidiary’s interest is held under DNeX Energy Sdn. Bhd. (formerly known as DNeX Petroleum Sdn. Bhd.) ## Not audited by member firms of Crowe Malaysia PLT. ~ This subsidiary was audited by member firms of Crowe Global of which Crowe Malaysia PLT is a member. The Company assessed the recoverable amount of the investments in the subsidiaries and determined that no additional impairment loss is required as the recoverable amount is higher than the carrying amount. The recoverable amount of the cash-generating unit is determined using the fair value less costs of disposal approach, and this is derived from the net assets position of the respective subsidiaries as at end of the reporting period. 134 Dagang NeXchange Berhad Annual Report 2018 Notes to the Financial Statements (CONTINUED)