PRG Holdings Berhad Annual Report 2017

• Annual Report 2017 117 11. INVESTMENT IN A JOINT VENTURE Group 2017 2016 RM’000 RM’000 Unquoted equity shares, at cost 570 570 Share of post-acquisition reserves, net of dividends received 539 785 1,109 1,355 The details of the joint venture are as follows: Interest in equity held Country of by subsidiary Name of company incorporation 2017 2016 Principal activities % % Trunet (Vietnam) Co., Ltd. * Vietnam 50 50 Manufacture and marketing of meat netting * Audited by a member firm of BDO International. Trunet (Vietnam) Co., Ltd., the only joint venture in which the Group participates, is an unlisted separate entity. The contractual arrangement only provides the Group with the rights to the net assets of the joint arrangement, with the rights to the assets and obligation for liabilities of the joint arrangement resting primarily with Trunet (Vietnam) Co., Ltd.. This joint arrangement has been classified as a joint venture and has been included in the consolidated financial statements using the equity method. N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 3 1 D E C E M B E R 2 0 1 7 ( C O N T ’ D )