Notes tothe financial statements For the financial year ended 31 December 2023 19. Investment in subsidiary companies (cont’d) (a) Composition of the Group (cont’d) Name of subsidiaries Country of incorporation Effective percentage of equity held Principal activities % 2023 2022 Held by PT Mega Citra Perdana PT Gunta Samba (PT GS) 4 Indonesia 44.07 44.07 Ownership of oil palm plantations and mill PT Multi Pacific International (PT MPI) 4 Indonesia 44.08 44.08 Ownership of oil palm plantations and mill Held by PT PP London Sumatra Indonesia Tbk PT Multi Agro Kencana Prima (PT MAKP) 5 Indonesia 43.71 43.71 Plantation, processing and trading Lonsum Singapore Pte. Ltd. (LSP) 6 Singapore 43.72 43.72 Trading and marketing PT Tani Musi Persada (PT TMP) 5 Indonesia 43.68 43.68 Ownership of oil palm plantations PT Sumatra Agri Sejahtera (PT SAS) 5 Indonesia 43.71 43.71 Ownership of oil palm plantations PT Tani Andalas Sejahtera (PT TAS) 5, ** Indonesia 43.71 39.35 Ownership of oil palm plantations Agri Investment Pte. Ltd. (AIPL) 6 Singapore 43.72 43.72 Investment holding PT Wushan Hijau Lestari (PT WHL) 3 Indonesia 28.41 28.41 Agriculture, forestry, fishing and trading Held by PT Mentari Pertiwi Makmur PT Sumalindo Alam Lestari (PT SAL) 7 Indonesia 58.64 58.64 Development of industrial timber plantations 119 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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