5.6 Subsidiaries
SHARES HELD DIRECTLY BY JOTUN A/S
(Share capital, face value and book value in thousand)
Company City Country Currency
Share
capital
No. of
shares
Face
value
Book
value
NOK
Ownership
%
Jotun Algerie S.A.R.L Algiers Algerie DZD 1 060 000 12 110 742 000 36 958 70.00
Jotun Australia Pty. Ltd. Melbourne Australia AUD 9 350 16 050 001 9 350 42 063 100.00
Jotun Bangladesh Ltd. Dhaka Bangladesh BDT 769 843 3 124 999 769 766 42 221 99.99
Jotun Brasil Importacao, Exportacao
E Ind De Tintas Ltda. Rio De Janeiro Brazil BRL 496 000 495 999 999 496 000 225 844 100.00
Jotun (Cambodia) Ltd. Phnom Penh Cambodia USD 200 1 000 200 1 166 100.00
Jotun Paints (HK) Ltd. Hong Kong China CNY 93 884 110 334 615 93 884 85 320 100.00
Jotun Cyprus Ltd. Limassol Cyprus USD 9 723 1 000 9 723 54 713 100.00
Jotun Danmark A/S Kolding Denmark DKK 3 300 45 3 300 2 698 100.00
El-Mohandes Jotun S.A.E. Cairo Egypt EGP 160 000 11 200 000 112 000 143 417 70.00
Jotun Powder Coatings LLL Cairo Egypt EGP 5 30 1 1 10.00
Jotun France S.A. Paris France EUR 320 16 000 320 2 108 100.00
Jotun (Deutschland) Gmbh Hamburg Germany EUR 614 1 200 512 12 090 83.33
Jotun Hellas Ltd. Glyfada Greece EUR 343 11 138 334 2 937 97.40
Jotun Insurance Cell St. Peterport Guernsey NOK 8 350 1 8 350 8 350 100.00
Jotun India Private Ltd. Mumbai India INR 4 227 790 184 515 002 4 076 435 488 263 96.42
P.T. Jotun Indonesia Jakarta Indonesia IDR 134 567 653 272 000 76 205 662 87 401 56.63
Jotun (Ireland) Ltd. Cork Ireland EUR 640 503 613 640 0 100.00
Jotun Italia S.R.L. Trieste Italy EUR 2 632 509 099 2 632 29 925 100.00
Jotun Kazakhstan LLP. Almaty Kazakhstan KZT 29 350 1 29 350 1 098 100.00
Jotun Kenya Limited Nairobi Kenya KES 484 000 459 800 459 800 3 045 95.00
Jotun Libya J.S.Co. Tripoli Libya LYD 7 184 65 000 5 747 27 854 80.00
Jotun (Malaysia) Sdn.Bhd. Kuala Lumpur Malaysia MYR 48 000 48 000 002 48 000 114 349 100.00
Jotun Paints (Malaysia) Sdn. Bhd. Kuala Lumpur Malaysia MYR 50 000 50 000 000 50 000 92 863 100.00
Jotun Maroc SARL D Associe Unique Casablanca Morocco MAD 100 000 1 000 000 100 000 32 965 100.00
Jotun Mexico, S.A. de C.V. Veracruz Mexico MXN 33 414 3 825 976 33 260 15 334 99.54
Jotun Myanmar Services Company Limited Yangon Myanmar MMK 2 212 500 99 999 2 190 375 13 840 99.00
Jotun Myanmar Company Limited Yangon Myanmar MMK 25 262 487 4 799 999 25 259 961 138 703 99.99
Jotun B.V. Spijkenisse Netherlands EUR 1 316 29 001 1 316 49 175 100.00
Jotun Powder Coatings AS Sandefjord Norway NOK 87 000 87 000 87 000 109 320 100.00
Scanox AS Drammen Norway NOK 4 000 20 000 4 000 80 280 100.00
Jotun Paints Co. L.L.C. Muscat Oman OMR 250 15 500 155 45 146 62.00
Jotun Pakistan (Private) Limited Lahore Pakistan PKR 645 084 2 761 349 645 084 10 271 100.00
Jotun Powder Coatings Pakistan (Pvt) Ltd. Lahore Pakistan PKR 1 437 678 38 669 400 386 735 24 235 26.90
Jotun (Philippines) Inc Manila Philippines PHP 565 960 15 463 695 565 960 99 619 100.00
Jotun Polska Sp.zo.o. Gdansk Poland PLN 8 900 15 000 8 900 17 591 100.00
Jotun Romania SRL Voluntari City Romania RON 640 64 000 640 1 084 100.00
Jotun Paints LLC. St.Petersburg Russia RUB 1 446 107 - 1 446 107 247 157 100.00
Jotun (Singapore) Pte. Ltd. Singapore Singapore SGD 6 000 6 000 000 6 000 28 040 100.00
Jotun Paints South Africa (Pty) Ltd. Cape Town South Africa ZAR 140 719 243 140 719 15 634 100.00
Jotun Iberica S.A. Barcelona Spain EUR 9 103 86 845 9 103 50 000 100.00
Jotun Sverige AB Gothenburg Sweden SEK 4 000 80 000 4 000 4 550 100.00
Jotun Thailand Ltd. Bangkok Thailand THB 93 000 92 997 93 000 132 809 100.00
Jotun Boya Sanayi ve Ticaret A.S. Istanbul Turkey TRY 8 130 30 000 000 8 130 108 387 100.00
Jotun MEIA FZ-LLC Dubai UAE AED 15 038 15 038 15 038 37 404 100.00
Jotun Paints (Europe) Ltd. Flixborough UK GBP 7 500 7 500 000 7 500 86 408 100.00
Jotun Paints Inc. Houston US USD 130 500 100 130 500 150 889 100.00
Jotun Paints Vietnam Co. Ltd. Ho Chi Minh City Vietnam VND 258 921 490 - 258 921 490 60 360 100.00
Total 3 063 886
Below follows a specification of subsidiaries in which the book value of Jotun A/S’
shares were subject to impairment in 2019.
Company Country Impairment
Jotun (Ireland) Ltd. Ireland 5 500
Jotun Paints Inc. USA 216 000
Jotun Brasil Imp., Exp. E Ind De Tintas Ltda. Brazil 98 000
Jotun Algerie S.A.R.L. Algerie 17 000
Jotun Pakistan (Private) Limited Pakistan 2 000
Jotun Maroc SARL D Associe Unique Morocco 41 000
Jotun Myanmar Services Company Limited Myanmar 1 000
Jotun Kenya Limited Kenya 39 000
Total 419 500
Estimate and judgement
Jotun A/S assess the carrying value of investments in shares whenever events or
changes in circumstances indicate that the carrying value of an investment may
not be recoverable.
If the carrying value of an investment exceeds its estimated recoverable amount,
an impairment loss is recognised in the income statement.
Jotun A/S reverse impairment losses in the income statement if and to the extent
Jotun A/S has identified a change in estimates used to determine the recoverable
amount.
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JOTUN A/S
67