PRG Holdings Berhad Annual Report 2020

PRG HOLDINGS BERHAD 12. INVESTMENTS IN ASSOCIATES Group 2020 2019 RM’000 RM’000 Unquoted equity shares, at cost 3,815 3,815 Goodwill 6,597 6,597 Share of post-acquisition reserves (3,730) (3,396) 6,682 7,016 Less: Impairment loss (4,788) (4,748) Less: Reclassification to assets held for sale (Note 28) - (334) 1,894 1,934 The details of the associates are as follows: Interest in equity held Country of by subsidiaries Name of company incorporation 2020 2019 Principal activities % % Furnitech Components (Vietnam) Co., Ltd. Vietnam 45.06 45.06 Manufacture and sale of (“Furnitech”) * metal components for furniture Premier Mirach Sdn. Bhd. ** Malaysia 25 25 Construction related activities Premier Aspirasi Development Sdn. Bhd. ** Malaysia 49 49 Property development and related activities Esther Postpartum Care Sdn. Bhd. (“EPC”) ** Malaysia 26.21 26.21 Confinement services Philipp Plein (Thailand) Company Limited Thailand 49 49 Retail sale of clothing, (“PP Thailand”) (formerly known as footwear and ancillary Skilltrain Co., Ltd.) ** # products * Audited by a member firm of BDO International. ** Associates are equity accounted based on management accounts for the financial year ended 31 December 2020. # On 11 April 2019, a subsidiary of the Company, PP Retail Pte. Ltd. acquired 64,190 ordinary shares representing 49% equity interest in PP Thailand, a limited liability company incorporated in Thailand for a consideration of THB6,419,000 (equivalent to RM842,000). Notes to the Financial Statements 31 December 2020 cont’d 128