PRG Holdings Berhad Annual Report 2020

Annual Report 2020 135 13. INVESTMENTS IN JOINT VENTURES (continued) The details of deemed disposal of a joint venture during the financial year ended 31 December 2019 are as follows: At date of disposal PRGA Group RM’000 Cost of investment 4,125 Share of post-acquisition reserves (222) Accumulated impairment losses (3,903) Share of interest in joint venture * Fair value of interest held * Fair value gain on disposal - * Amount is less than RM1,000. In the previous financial year, the impairment losses on investments in joint ventures of RM3,903,000 have been recognised due to cessation of business operation. 14. OTHER INVESTMENTS Group/Company 2020 2019 RM’000 RM’000 Financial assets at fair value through other comprehensive income Equity securities: Quoted shares outside Malaysia 4,030 6,452 Equity securities which are not held for trading for which the Group and the Company have irrevocably elected to recognise at fair value through other comprehensive income. These are strategic investments for which the Group and the Company consider this classification to be appropriate and relevant. The quoted shares of the Group and the Company are categorised as Level 1 in the fair value hierarchy. Fair values of investments in quoted shares are based on the quoted prices in active market. The reconciliation of the fair value of the investment in quoted shares are as follows: Group/Company 2020 2019 RM’000 RM’000 Balance as at 1 January 6,452 - Addition during the financial year - 28,327 Fair value changes (2,422) (21,875) Balance as at 31 December 4,030 6,452 Notes to the Financial Statements 31 December 2020 cont’d