Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Explanatory Notes 30 SEPTEMBER 2020 20. INVESTMENTS IN SUBSIDIARIES (b) Details pertaining to the subsidiaries Proportion of direct ownership (%) Proportion of indirect ownership (%) Name of subsidiaries Principal activity Sep-20 Sep-19 Sep-20 Sep-19 Year end Finance Cim Finance Ltd* Credit card business, factoring, consumer finance, leasing 100.0 100.0 - - 30 September Cim Forex Ltd Forex dealer 100.0 100.0 - - 30 September Cim Agencies Ltd* Insurance agent 100.0 100.0 - - 30 September Mauritian Eagle Leasing Company Ltd* Leasing 100.0 100.0 - - 30 September Investments Cim Kenya Ltd Holding company 100.0 100.0 - - 30 September Cim Credit Kenya Ltd Provision of retail credit - - 100.0 100.0 30 September Cim Insurance Agency Ltd Insurance agent - - 100.0 100.0 30 September Cim International Holdings Ltd Investment holding 100.0 100.0 - - 30 September Cim Administrators Ltd Secretarial services 100.0 100.0 - - 30 September Cim Ethiopia Ltd** Investment holding - - - 100.0 30 September Key Financial Services Ltd Investment holding - - 100.0 100.0 30 September The Oceanic Trust Co. Ltd Corporate trustee - - 100.0 100.0 30 September Cim Investments Ltd*** Dormant 100.0 - - - 30 September Cim Learning Centre Ltd Investment holding 100.0 100.0 - - 30 September Cim Management Services Ltd* Management services 100.0 100.0 - - 30 September Cim Shared Services Ltd* Support activities 100.0 100.0 - - 30 September Evripay** Dormant - 100.0 - - 31 December The above subsidiaries are incorporated in Mauritius except for Cim Credit Kenya Ltd and Cim Insurance Agency Ltd which are incorporated in Kenya. * These 5 companies have been amalgamated to the Holding Company Cim Financial Services Ltd after the financial year end, on the 1st October 2020, refer to note 35, Events after Reporting date. ** These companies are in winding up process. *** New company incorporated during the year. 127