NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 43 SIGNIFICANT INVESTMENTS IN SUBSIDIARIES (CONT’D) Principal activity Principal place of business/ Country of incorporation Ownership interest 2025 2024 % % Direct/Indirect subsidiaries of the Company (cont’d) (1) Crescent View Developments Pte. Ltd. Property owner and developer Singapore 60 60 (2) Educado Company Limited Investment holding and share dealing Hong Kong 100 100 (1) Ellinois Management Services Pte. Ltd. Asset/portfolio management Singapore 100 100 (1) Empire City Consultant Pte Ltd Management of properties Singapore 100 100 (2) Friars Road Manco Limited Operating company United Kingdom 99.9 99.9 (1) Gemini One Pte. Ltd. Hotel operator Singapore 100 100 (1) Gemini One Trust Property owner and developer Singapore 100 100 (1) Grange 100 Pte. Ltd. Property owner Singapore 100 100 (1) Grande Strategic Pte. Ltd. Investment holding Singapore 100 100 (1) Guan Realty (Private) Limited Property owner and developer Singapore 100 100 (9) HSRE Crosslane (Coventry) Limited Property owner Jersey 99.9 99.9 (9) HSRE Crosslane (Leeds) Limited Property owner Jersey 99.9 99.9 (9) Hoko Mina Pty Ltd Property owner and developer Australia 100 100 (1) Hong Leong Properties Pte. Limited Property owner Singapore 100 100 (2) Highline Investments LP Property owner United Kingdom 100 100 (2) Highline Properties LP Property owner United Kingdom 100 100 (9) Infinity Properties Limited Property owner and developer Jersey 100 100 (1) Ingensys Pte. Ltd. Systems integration activities Singapore 100 100 (2) Krungthep Rimnam Limited Hotel business Thailand 49 (a) 49 (a) (9) Landco Properties Limited Property owner Jersey 100 100 (1) Land Equity Development Pte Ltd Property owner Singapore 100 100 (9) Melvale Holdings Limited Investment holding and property developer Jersey 100 100 ANNUAL REPORT 2025 | 233
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