| CIM FINANCE. INTEGRATED REPORT 2022 172 EXPLANATORY NOTES 30 SEPTEMBER 2022 20. INVESTMENTS IN SUBSIDIARIES (CONT’D) (b) Details pertaining to the subsidiaries Proportion of direct ownership (%) Proportion of indirect ownership (%) Name of subsidiaries Principal activity Stated Capital (MUR000s) Sep-22 Sep-21 Sep-22 Sep-21 Year end Finance Swan Forex Ltd (previously known as Cim Forex Ltd*) Tsusho Capital (Mauritius)Ltd** Forex dealer Leasing 27,000 48,069 - 100.0 100.0 - - - - - 30 September 31 March Investments Cim International Holdings Ltd Investment holding 195,943 100.0 100.0 - - 30 September Cim Kenya Ltd Holding company - 100.0 100.0 - - 30 September Cim Credit Kenya Ltd Provision of retail credit 3 - - 100.0 100.0 30 September Cim Insurance Agency Ltd Insurance agent 37 - - 100.0 100.0 30 September Cim Administrators Ltd Secretarial services 25 100.0 100.0 - - 30 September Cim Learning Centre Ltd Investment holding 1,000 100.0 100.0 - - 30 September Key Financial Services Ltd Investment holding 300 - - 100.0 100.0 30 September The Oceanic Trust Co. Ltd Corporate trustee 426 - - 100.0 100.0 30 September Cim Investments Ltd Dormant - 100.0 100.0 - - 30 September Cim CSR Fund Ltd*** Charitable institution - 100.0 100.0 - - 30 September All the companies have only ordinary shares. The above subsidiaries are incorporated in Mauritius except for Cim Credit Kenya Ltd and Cim Insurance Agency Ltd which are incorporated in Kenya. *Swan Forex Ltd (previously known as Cim Forex Ltd*) has been disposed in July 2022. **Tsusho Capital (Mauritius) Ltd was acquired on March 2022 and amalgamated in and into CIM Financial Services Ltd on 1 October 2022. Refer to Note 36. ***Cim CSR Fund Ltd is not consolidated in the Group accounts as it is a charitable institution. Excluding companies under liquidation and dormant companies.
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