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 Algerie 11 70.00
Jotun Australia Pty. Ltd. Melbourne Australia 42 100.00
Jotun Bangladesh Ltd Dhaka Bangladesh 73 99.99
Jotun Brasil Importacao, Exportacao E Ind De Tintas Ltda. Rio De Janeiro Brazil 196 100.00
Jotun (Cambodia) LTD Phnom Penh Cambodia 1 100.00
Jotun Paints (HK) Ltd. Hong Kong China 85 100.00
Jotun Cyprus Ltd. Limassol Cyprus 8 100.00
Jotun Danmark A/S Kolding Denmark 3 100.00
El-Mohandes Jotun S.A.E. Cairo Egypt 143 69.95
Jotun Powder Coatings LLL Cairo Egypt - 10.00
Jotun Ethiopia Paint Manufacturing PLC Adama Ethiopia 65 100.00
Jotun France S.A. Paris France 2 100.00
Jotun (Deutschland) Gmbh Hamburg Germany 12 83.33
Jotun Hellas Ltd. Glyfada Greece 3 97.40
Jotun Insurance Cell St. Peterport Guernsey 8 100.00
Jotun India Private Ltd. Mumbai India 488 96.42
P.T. Jotun Indonesia Jakarta Indonesia 88 56.63
Jotun (Ireland) Ltd. Cork Ireland - 100.00
Jotun Italia S.R.L. Trieste Italy 93 100.00
Jotun Kazakhstan LLP. Almaty Kazakhstan 1 100.00
Jotun Kenya Limited Nairobi Kenya 4 95.00
Jotun Libya J.S.Co. Tripoli Libya 6 80.00
Jotun Paints (Malaysia) Sdn. Bhd. Kuala Lumpur Malaysia 93 100.00
Jotun (Malaysia) Sdn.Bhd. Kuala Lumpur Malaysia 106 100.00
Jotun Mexico, S.A. de C.V. Veracruz Mexico 17 99.54
Jotun Maroc SARL D Associe Unique Casablanca Morocco 20 100.00
Jotun Myanmar Services Company Limited Yangon Myanmar - 99.99
Jotun Myanmar Company Limited Yangon Myanmar - 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) Limited Lahore Pakistan - 100.00
Jotun Powder Coatings Pakistan (Pvt) Ltd Lahore Pakistan 39 26.90
Jotun (Philippines) Inc Manila Philippines 49 100.00
Jotun Polska Sp.zo.o. Gdansk Poland 18 100.00
Jotun Paints Qatar W.L.L. Doha Qatar 1 80.00
Jotun Paints Factory Doha W.L.L. Doha Qatar 99 80.00
Jotun Romania SRL Voluntari City Romania 1 100.00
Jotun Paints LLC. St.Petersburg Russia 247 100.00
Jotun (Singapore) Pte. Ltd. Singapore Singapore 28 100.00
Jotun Paints South Africa (Pty) Ltd. Cape Town South Africa 20 100.00
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 UAE 470 100.00
Jotun MENA LLC, Dubai UAE 50 100.00
Jotun Paints (Europe) Ltd Flixborough UK 86 100.00
Jotun Paints Inc. Houston US 170 100.00
Jotun Paints Vietnam Co. Ltd. Ho Chi Minh City Vietnam 60 100.00
Total 3 487
Jotun A/S
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Below follows the specification of companies subject to write downs in 2021.
Company (NOK million) Country Write down
Jotun Myanmar Company Limited Myanmar 42
Jotun (Philippines) Inc Philippines 34
Jotun Brasil Importacao, Exportacao E Ind De Tintas Ltda. Brazil 25
Jotun Bangladesh Ltd Bangladesh 17
Jotun Maroc SARL D Associe Unique Morocco 15
Jotun Libya J.S.Co. Libya 13
Jotun Mexico, S.A. de C.V. Mexico 10
Jotun (Malaysia) Sdn.Bhd. Malaysia 9
Jotun Pakistan (Private) Limited Pakistan 8
Jotun Kenya Limited Kenya 7
Jotun Powder Coatings Pakistan (Pvt) Ltd Pakistan 3
Jotun Italia S.R.L. Italy -27
Total 157
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 2021 I 65