Dagang NeXchange Berhad Annual Report 2019

FINANCIAL STATEMENTS annual report 2019 139 7. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Details of the subsidiaries are as follows: Principal place of business/ Effective country of ownership interest Name of subsidiary incorporation Principal activities 2019 2018 % % Information Technology Dagang Net Technologies Malaysia Development, management and provision of business 100 100 Sdn. Bhd. to government (B2G) e-commerce and computerised transaction in trade facilitation services. DNeX RFID Sdn. Bhd.* Malaysia Research and development, design, manufacturing 51 51 and trading of radio-frequency technology. Global eCommerce Federal Territory Yet to commence business. 51 100 Limited *~ of Labuan, Malaysia DNeX Telco Services Malaysia Providing of services for infrastructure works for 51 51 Sdn. Bhd. * telecommunication industry. Global Market eCommerce Malaysia Dealing in the business for online marketing and 100 100 Sdn. Bhd. * e-market place. Imizu Sdn. Bhd.** Malaysia Trading, dealing in any manner whatsoever in all type 55 55 (formerly known as of drinking water and beverages on retail as well DNeX Imizu Sdn. Bhd.) as on wholesale basis in Malaysia or elsewhere. SealNet Sdn. Bhd. * Malaysia Providing technical consultancy, implementation, 80 80 (formerly known as training, maintenance and technical support services DNeXPORT Sdn. Bhd.) related to eBusiness and the operation of business to business (B2B) eCommerce portal. DNeX GIS Sdn. Bhd.*** Malaysia Yet to commence business. 41 41 Genaxis Group Sdn. Bhd.* Malaysia Providing consultancy and advisory in computer 51 51 hardware, software, peripherals and other IT based products. * The subsidiaries interest are held under Dagang Net Technologies Sdn. Bhd. ** The subsidiary’s interest is held under Global Market eCommerce Sdn. Bhd. *** The Subsidiary's interest is held under Sealnet Sdn. Bhd. (formerly known as DNeXPORT Sdn. Bhd.) ~ This subsidiary was audited by member firms of Crowe Global of which Crowe Malaysia PLT is a member.