Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 20. INVESTMENT IN SUBSIDIARIES (CONT’D) (a) Details pertaining to the subsidiaries Proportion of direct ownership (%) Proportion of indirect ownership (%) Proportion ownership by non controlling interest (%) Name of subsidiaries Principal activity Sep-19 Sep-18 Sep-19 Sep-18 Sep-19 Sep-18 Finance Cim Finance Ltd Credit card business, factoring, consumer finance, leasing 100.0 100.0 - - - - Cim Forex Ltd Forex dealer 100.0 100.0 - - - - Cim Agencies Ltd Insurance agent 100.0 100.0 - - - - Mauritian Eagle Leasing Company Ltd Leasing 100.0 100.0 - - - - Investments - - Cim Kenya Ltd Holding company 100.0 100.0 - - - - Cim Credit Kenya Ltd Provision of retail credit - - 100.0 100.0 - - Cim Insurance Agency Ltd Insurance agent - - 100.0 100.0 - - Cim International Holdings Ltd Investment holding 100.0 100.0 - - - - Cim Administrators Ltd Secretarial services 100.0 100.0 - - - - Cim Ethiopia Ltd Investment holding - - 100.0 100.0 - - Key Financial Services Ltd Investment holding - - 100.0 100.0 - - The Oceanic Trust Co. Ltd Corporate trustee - - 100.0 100.0 - - Property Lavastone Ltd ((note (i)) Property - 100.0 - - - - Lavastone Properties Ltd ((note (i)) Property - - - 100.0 - - South West Safari Group Ltd ((note (i)) Property - 1.3 - 52.3 - 46.4 Le Morne Development Corp Ltd ((note (i)) Property - 31.0 - 29.0 - 20.0 San Paolo Ltd ((note (i)) Property - 59.2 - - - 40.8 SWTD Bis Ltd ((note (i)) Property - 100.0 - - - - Plato Holdings Ltd ((note (i)) Property - - - 100.0 - - Edith Cavell Properties Ltd ((note (i)) Property - 100.0 - - - - La Jetee Ltd ((note (i)) Property - - - 53.6 - - Pier9 Ltd ((note (i)) Property - - - 53.6 - - B59 Ltd ((note (i)) Property - - - 100.0 - - The Belle Mare SPV Ltd ((note (i)) Dormant - - - 100.0 - - Others Cim Learning Centre Ltd Investment holding 100.0 100.0 - - - - Cim Management Services Ltd Management services 100.0 100.0 - - - - Cim Shared Services Ltd Support activities 100.0 100.0 - - - - Evripay Dormant 100.0 100.0 - - - - The above subsidiaries are incorporated in Mauritius except for Cim Credit Kenya Ltd and Cim Insurance Agency Ltd which are incorporated in Kenya. Note (i) - Subsidiaries distributed as non cash assets to owners during the year (refer to note 35) CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 125