Notes tothe financial statements For the financial year ended 31 December 2023 19. Investment in subsidiary companies (cont’d) (a) Composition of the Group The Group has the following investment in subsidiaries: Name of subsidiaries Country of incorporation Effective percentage of equity held Principal activities % 2023 2022 Name (Abbreviated name) Held by the Company PT Salim Ivomas Pratama Tbk (PT SIMP) 2 Indonesia 73.46 73.46 Ownership of oil palm plantations, mills and production of cooking oil, margarine, shortening, and other related products IFAR Brazil Pte. Ltd. (IFAR Brazil) 1 Singapore 100.00 100.00 Investment holding IFAR Trading Pte. Ltd. (IATPL) 1 Singapore 100.00 100.00 Trading of CPO and derivative products Held by PT Salim Ivomas Pratama Tbk IndoInternational Green Energy Resources Pte. Ltd. (IGER) 1 Singapore 44.08 44.08 Investment holding PT Indoagri Inti Plantation (PT IIP) 2 Indonesia 72.73 72.73 Investment holding, management services and transportation Silveron Investments Limited (SIL) * Mauritius 73.46 73.46 Investment holding PT Kebun Mandiri Sejahtera (PT KMS) 3 Indonesia 71.89 71.89 Ownership of rubber and oil palm plantations PT Manggala Batama Perdana (PT MBP) * Indonesia 73.46 73.46 Non-operating 115 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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