notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
8 INVESTMENT IN SUBSIDIARIES (CONTINUED)
Details of subsidiaries are as follows:
Group’s effective interest Country of
incorporation
2014
2013
Principal activities
%
%
Wasco Energy Ltd.
100
100 Bermuda
Investment holding
Wasco Management Services Sdn. Bhd.
100
100 Malaysia
Provision of management support services
#
Wasco Capital Pte. Limited
100
100 Singapore
Investment holding
*
Wasco (Australia) Pty. Ltd.
60
60^ Australia
Provision of construction services for the oil and
gas industry
#
Wasco Coatings Limited
100
100 Hong Kong, SAR
Investment holding
*
Wasco Coatings UK Ltd.
100
100 England and Wales Dormant
*
Wasco Management Services S.R.L.
100
***
- Italy
Dormant
#
Wasco Coatings Singapore Pte. Ltd.
100
100 Singapore
Investment holding
*
Turn Key Pipeline Services B.V.
100
&&
- The Netherlands
Provision of engineering design, construction,
installation services and supply of equipment for
pipe coating plant and facilities for the oil and gas
industry
*
Wasco Coatings Europe B.V.
100
100 The Netherlands
Dormant
Wasco Coatings Services Sdn. Bhd.
100
100 Malaysia
Provision of pipe coating and related services to
the oil and gas industry
#
Wasco Coatings Norway AS
100
100
¥
Norway
Provision of pipe coating and related services to
the oil and gas industry
PPSC Industrial Holdings Sdn. Bhd.
100
100 Malaysia
Investment holding
Wasco Resources Sdn. Bhd.
100
100 Malaysia
Property investment holding
Wasco Coatings Malaysia Sdn. Bhd.
70
70 Malaysia
Coating of pipes for the oil and gas industry
Wasco Coatings Insulation Sdn. Bhd.
70
70 Malaysia
Coating of pipes for the oil and gas industry
PPSC (Malaysia) Sdn. Bhd.
-
-
&
Malaysia
Dormant (In Member’s Voluntary Winding up)
#
Wasco Coatings HK Limited
100
100 Hong Kong, SAR
Investment holding, marketing and provision of
pipe coating and related services to the oil and gas
industry
Wasco Coatings Labuan Limited
-
-
&
Federal Territory of
Labuan, Malaysia
Investment holding (In Member’s Voluntary
Winding Up)
Wasco Kanssen Limited
100
100 British Virgin Islands Investment holding and provision of pipe coating
services
~
Kanssen (Yadong) International Pipe Coating
Services Limited
100
100 British Virgin Islands Provision of pipe coating services and investment
holding
~
Yadong Anti-Corrosion (Int) Company Limited
100
100 British Virgin Islands Investment holding
*
Jingzhou Wasco Kanssen Offshore Petroleum
Engineering Co., Ltd.
100
100 People’s Republic of
China
Provision of pipe coating services
96
Wah Seong Corporation Berhad • Annual Report 2014
