5.6 SUBSIDIARIES
SHARES HELD DIRECTLY BY THE PARENT COMPANY
Company City Country
Book value
(NOK million) Ownership %
Jotun Algerie S.A.R.L Algiers Algeria 11 70.00
Jotun Australia Pty. Ltd. Melbourne Australia 42 100.00
Jotun Bangladesh Ltd. Dhaka Bangladesh 58 99.99
Jotun Brasil Importacao, Exportacao E Ind De Tintas Ltda. Rio De Janeiro Brazil 181 100.00
Jotun (Cambodia) LTD. Phnom Penh Cambodia 1 100.00
Jotun Paints (HK) Ltd. Hong Kong China 85 100.00
Jotun Cyprus Ltd. Limassol Cyprus 55 100.00
Jotun Danmark A/S Kolding Denmark 3 100.00
El-Mohandes Jotun S.A.E. Cairo Egypt 143 70.00
Jotun Powder Coatings LLL Cairo Egypt 0 10.00
Jotun Ethiopia Paint Manufacturing PLC Adama Ethiopia 33 100.00
Jotun France S.A. Paris France 2 100.00
Jotun (Deutschland) Gmbh Hamburg Germany 12 83.33
Jotun Hellas Ltd. Glyfada Greece 3 97.4
Jotun Insurance Cell St. Peterport Guernsey 8 100.00
Jotun India Private Ltd. Mumbai India 488 96.42
P.T. Jotun Indonesia Jakarta Indonesia 89 56.93
Jotun (Ireland) Ltd. Cork Ireland 0 100.00
Jotun Italia S.R.L. Trieste Italy 66 100.00
Jotun Kazakhstan L.L.P. Almaty Kazakhstan 1 100.00
Jotun Kenya Ltd. Nairobi Kenya 7 95.00
Jotun Libya J.S.Co. Tripoli Libya 19 80.00
Jotun Paints (Malaysia) Sdn. Bhd. Kuala Lumpur Malaysia 93 100.00
Jotun (Malaysia) Sdn.Bhd. Kuala Lumpur Malaysia 114 100.00
Jotun Mexico, S.A. de C.V. Veracruz Mexico 19 99.54
Jotun Maroc SARL D Associe Unique Casablanca Morocco 35 100.00
Jotun Myanmar Services Company Ltd. Yangon Myanmar 0 99.99
Jotun Myanmar Company Ltd. Yangon Myanmar 35 99.99
Jotun B.V. Spijkenisse Netherlands 49 100.00
Scanox AS Drammen Norway 80 100.00
Jotun Powder Coatings AS Sandefjord Norway 109 100.00
Jotun Paints Co. L.L.C. Muscat Oman 45 62.00
Jotun Pakistan (Private) Ltd. Lahore Pakistan 8 100.00
Jotun Powder Coatings Pakistan (Pvt) Ltd. Lahore Pakistan 19 26.90
Jotun (Philippines) Inc. Manila Philippines 46 100.00
Jotun Polska Sp.zo.o. Gdansk Poland 18 100.00
Jotun Paints Qatar W.L.L. Doha Qatar 1 100.00
Jotun Paints Factory Doha W.L.L. Doha Qatar 85 100.00
Jotun Romania S.R.L. Voluntari City Romania 1 100.00
Jotun Paints LLC. St.Petersburg Russia Fed. 247 100.00
Jotun (Singapore) Pte. Ltd. Singapore Singapore 28 100.00
Jotun Paints South Africa (Pty) Ltd. Cape Town South Africa 24 100.00
Jotun Iberica S.A. Barcelona Spain 50 100.00
Jotun Sverige AB Gothenburg Sweden 5 100.00
Jotun Thailand Ltd. Bangkok Thailand 133 100.00
Jotun Boya Sanayi ve Ticaret A.S. Istanbul Turkey 108 100.00
Jotun MEIA FZ-LLC Dubai U.A.E. 136 100.00
Jotun MENA LLC, Dubai U.A.E. 50 100.00
Jotun Paints (Europe) Ltd. Flixborough UK 86 100.00
Jotun Paints Inc. New Orleans USA 170 100.00
Jotun Paints Vietnam Co. Ltd. Ho Chi Minh City Vietnam 60 100.00
Total 3 164
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Jotun A/S
Below follows the specification of companies subject to write downs in 2020.
Company (NOK million) Country Write down
Jotun Myanmar Company Ltd. Myanmar 127
Jotun Brasil Importacao, Exportacao E Ind De Tintas Ltda. Brazil 90
Jotun Philippines Inc. Philippines 54
Jotun Italia S.p.A. Italy 46
Jotun Bangladesh Ltd. Bangladesh 34
Jotun Algerie S.A.R.L Algeria 26
Jotun Maroc SARL D Associe Unique Morocco 16
Jotun Paints Libya J.S. Co. Libya 9
Jotun Kenya Ltd. Kenya 9
Jotun Powder Pakistan Ltd. Pakistan 6
Jotun Pakistan (Private) Ltd. Pakistan 4
Jotun Myanmar Services Company Ltd. Myanmar 0
Total 420
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.
Jotun Annual Report 2020 I 65