subsidiaries’ principal place of business is situated in the country of incorporation. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 359 50 LIST OF JOINT ARRANGEMENTS The list of joint arrangements of the Group is as follows: Name of joint arrangement Group’s effective interest Principal activities Country of incorporation 2023 2022 Joint ventures Seatrac Sdn. Bhd. 50% 50% Dormant Malaysia JointventuresofTNBEnergyServices Sdn.Bhd. FTJ Bio Power Sdn. Bhd. 40% 40% Generation and distribution of electricity using palm empty fruit bunches as its main fuel source Malaysia Metrosphere Hydro Tersat Sdn. Bhd.* 49% 49% Business related in hydro power plant and general trading Malaysia Joint venture of TNB Engineering Corporation Sdn. Bhd. Airport Cooling Energy Supply Sdn. Bhd. 77% 77% T o develop, design, engineer, procure, constructand finance district cooling projects in the airport sector, to undertake the comprehensive operational and maintenance of district cooling projects in the airport sector and to carry on the business of producing, distributing, applying, dealing and selling of chilled water Malaysia Joint venture of TNB Repair And Maintenance Sdn. Bhd. GMR Tenaga Operations And Maintenance Private Limited* 50% 50% Operation and maintenance of power plants India Joint operations Joint operation of TNB Engineering Corporation Sdn. Bhd. TNB Engineering Corporation Sdn. Bhd. & ERS Energy Sdn. Bhd. (‘TNEC-ERS’) 60% 60% Project Large Scale Solar Photovoltaic Plant at Kuala Muda, Kedah Malaysia Joint operations of TNB Repair And Maintenance Sdn. Bhd. TNB Repair And Maintenance Sdn. Bhd. & Al-Dhow Engineering (‘TNB REMACO & Al-Dhow JV’)# 50% 50% Maintenance works for instrumental & control systems and mechanical equipment services Kuwait TNB Repair And Maintenance Sdn. Bhd. & Kharafi National (‘TNB REMACO & KN JV’)# 50% 50% Operation and maintenance services to heavy industries and other related services Kuwait # Audited by a member firm of PricewaterhouseCoopers International Limited