NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 43 SIGNIFICANT INVESTMENTS IN SUBSIDIARIES (CONT’D) Principal activity Principal place of business/ Country of incorporation Ownership interest 2024 2023 % % Direct/Indirect subsidiaries of Millennium & Copthorne Hotels Limited (cont’d) (9) Millennium Hotels (West London) Management Limited Hotel operator United Kingdom 100 100 (2) M Social Paris SAS (formerly known as Millennium Opera Paris SAS) Hotel operator France 100 100 (2) PT. Millennium Sirih Jakarta Hotel Hotel owner Indonesia 100 100 (1) Republic Hotels & Resorts Limited Hotel operator and investment holding company Singapore 100 100 (1) Republic Iconic Hotel Pte. Ltd. Hotel operator Singapore 100 100 (2) RHH Operating LLC Hotel owner USA 100 100 (2) RHM Aurora LLC Hotel ownership USA 100 100 (2) RHM Management LLC Hotel ownership USA 100 100 (2) RHM Ranch LLC Hotel owner USA 100 100 (2) RHM-88, LLC Hotel owner and operator USA 100 100 (2) Sunnyvale Partners Ltd. Hotel ownership USA 100 100 (2) Trimark Hotel Corporation Hotel owner and operator USA 100 100 (2) WHB Biltmore LLC Hotel owner and operator USA 100 100 (1) Audited by KPMG LLP Singapore (2) Audited by other member firms of KPMG International (3) Audited by Shanghai Xiao Tian Cheng Certified Public Accountant Co., Ltd (4) Audited by Shenzhen Shuibo Certified Public Accountants (Special General Partnership) (5) Audited by Shanghai Certified Public Accountants (6) Audited by Deloitte & Touche LLP (7) Audited by Nanatsu-boshi Audit Corporation (8) Auditors are not appointed yet (9) Not subject to audit by law of country of incorporation (a) Relates to the ownership interest in the non-residential component of Sunbright Holdings Limited. Please refer to note (a) under note 44 of the financial statements. (b) Phuket Square Co., Ltd and Krungthep Rimnam Limited are considered subsidiaries of the Group as the Group is exposed to variable returns from the companies and has the ability to affect those returns through the management’s control over the relevant activities of the companies. FINANCIALS CITY DEVELOPMENTS LIMITED 220
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