Frontken Berhad Annual Report 2017

93 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2017 12. INVESTMENT IN AN ASSOCIATE The Group 2017 2016 RM RM Unquoted shares - at cost 1,193,279 1,193,279 Share of post-acquisition results 231,176 282,302 Foreign currency translation differences 538,464 522,925 1,962,919 1,998,506 The summarised financial information of the associate that is material to the Group is as follows:- The Group 2017 2016 RM RM Current assets 1,029,788 2,064,278 Non-current assets 4,155,784 4,313,104 Current liabilities (1,534,038) (2,568,802) Non-current liabilities (25,132) (54,807) Net assets 3,626,402 3,753,773 Revenue 2,319,031 2,288,827 Loss for the financial year (104,339) (221,479) Group’s share of results for the financial year (51,126) (108,525) The details of the associate are as follows: Name of Associate Principal Place of Business Effective Equity Interest 2017 % 2016 % Principal Activities Indirect Associate Frontken (Thailand) Co., Ltd. Thailand 49 49 Provision of surface metamorphosis technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works. Notes To The Financial Statements (cont’d)