Page 54 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

Percentage of
holding
Country of
Name of the subsidiary incorporation Principal activities 2025 2024

Leasing of heavy
and light equipment
Road Junction Transport and
Equipment Company W.L.L. (i) State of Qatar including cranes and 100% -
forklifts and power
generators.

Indirectly held by the Parent
Company through Group’s
subsidiaries:

Carriage of cargo and
passengers, storage
Kingdom of
JTC Logistics Company L.L.C. (i) services and leasing - 100%
Saudi Arabia
of heavy and light
equipments.
Leasing of heavy
and light equipment
Road Junction Transport and State of Qatar including cranes and - 100%
Equipment Company W.L.L. (i)
forklifts and power
generators.

(i) During the year, the Parent Company completed a restructuring under which it acquired
direct ownership of its previously indirect subsidiaries in the Kingdom of Saudi Arabia and
the State of Qatar. These restructurings were undertaken to simplify the Group’s ownership
structure and had no financial impact on the consolidated financial statements.
(ii) The Parent Company holds 99% of the shareholding in each of the two subsidiaries,
while the remaining 1% in each subsidiary is held by the other subsidiary. Accordingly,
both subsidiaries are fully consolidated (100%) in the Group’s consolidated financial
statements.

Subsidiaries (investees) are those enterprises controlled by the Parent Company. Control is
achieved when the Group:

▶ has power over the investee.
▶ is exposed, or has rights to variable returns from its involvement with the investee.

▶ has the ability to use its power to affect its returns.
The Group reassess whether or not it controls an investee if facts and circumstances indicate
that there are changes to one or more of the three elements of control listed above.
When the Group has less than a majority of voting rights of an investee, it has power over
the investee when the voting rights are sufficient to give it the practical ability to direct the
relevant activities of the investee unilaterally.
The Group considers all relevant facts and circumstances in assessing whether or not the
Company’s voting rights in an investee are sufficient to give it power, including:

52 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.