106 / 168
Datasonic Group Berhad
(Company No. 809759-X)
104
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
(Continued)
7.
INVESTMENT IN AN ASSOCIATE
Group
Company
2016
2015
2016
2015
RM’000
RM’000
RM’000
RM’000
Unquoted shares in Malaysia,
at cost
90
90
90
90
Share of post-acquisition loss
(90)
(90)
–
–
–
–
90
90
The details of the associate are as follows:-
Principal
Effective
Place of
Equity Interest
Name of Associate
Business
2016
2015 Principal Activity
% %
Electric Vehicle Automotive
Malaysia
30
30
Dormant.
(M) Sdn. Bhd. (“EVAM”)
(a) The share of results in the associate is based on the audited financial statements for the financial
year ended 31 March 2016.
(b) The summarised audited financial information for the associate is not presented as the associate
is not material to the Group.
(c) The Group has not recognised losses relating to EVAM, where its share of losses exceeds the
Group’s cost of investment in this associate. The Group’s cumulative share of unrecognised
losses at the end of the financial year was approximately RM63,000 (2015 - RM6,000) of which
approximately RM57,000 (2015 - RM6,000) was the share of the current financial year’s losses.
The Group has no obligation in respect of these losses.
8.
OTHER INVESTMENT
Group
2016
2015
RM’000
RM’000
Investment in club membership, at fair value
110
110
This investment is designated as available-for-sale financial asset and is measured at fair value.