217 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 KENANGA INVESTMENT BANK BERHAD Annual Report 2022 13. INVESTMENTS IN SUBSIDIARIES (CONT’D.) Details of the subsidiary companies are as follows: Effective equity interest Name Principal activities 2022 % 2021 % Local subsidiary companies Kenanga Futures Sdn Bhd Futures broker 100 100 Kenanga Nominees (Asing) Sdn Bhd Provision of nominee services 100 100 Kenanga Nominees (Tempatan) Sdn Bhd Provision of nominee services 100 100 Kenanga Private Equity Sdn Bhd Private equity management 100 100 ECML Berhad Dealings in securities and derivatives, and provision of corporate finance and other advisory services 100 100 Kenanga Digital Sdn Bhd (f.k.a. ECML Nominees (Tempatan) Sdn Bhd) Online digital platform or portal business and provision of information technology services 100 100 Avenue Kestrel Sdn Bhd Stock broking business 100 100 K & N Kenanga Holdings Berhad Investment holding 100 100 The subsidiary company of K & N Kenanga Holdings Berhad is: SSSB Management Services Sdn Bhd Stock broking business 100 100 Kenanga Management & Services Sdn Bhd Investment in property and provision of management and maintenance services 100 100 Kenanga Investors Berhad Promotion and management of collective investment schemes and management of investment funds 100 100 The subsidiary companies of Kenanga Investors Berhad are: Kenanga Islamic Investors Berhad Management of Islamic collective investment schemes and Islamic investment funds 100 100 I-VCAP Management Sdn Bhd (“I-VCAP”) Provision of Shariah-compliant investment management services 100 100 KUT Nominees (Tempatan) Sdn Bhd Provision of nominee services 100 100 KUT Nominees (Asing) Sdn Bhd Provision of nominee services 100 100 Kenanga Funds Berhad Promotion and management of unit trust funds and the management of investment funds 100 100
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