11. INVESTMENTS IN ASSOCIATES (continued) The details of the associates are as follows: Interest in equity held Country of by subsidiaries Name of company incorporation 2021 2020 Principal activities % % Furnitech Components Vietnam - 45.06 Manufacture and sale of metal (Vietnam) Co., Ltd. components for furniture (“Furnitech”) */^ Premier Mirach Sdn. Bhd. ** Malaysia 25 25 Construction related activities Premier Aspirasi Malaysia 49 49 Property development and Development Sdn. Bhd. ** related activities Esther Postpartum Care Malaysia 26.21 26.21 Confinement services Sdn. Bhd. (“EPC”) ** Philipp Plein (Thailand) Thailand 49 49 Retail sale of clothing, footware and Company Limited ancillary products (“PP Thailand”) ** Energy Solution Global British Virgin 37.25 - Investment holding and provision of Limited ** Islands smart energy saving solution * Audited by a member firm of BDO International. ** Associates are equity accounted based on management accounts for the financial year ended 31 December 2021. ^ The disposal of the associate had completed on 7 June 2021. The summarised financial information of the associates are as follows: Other immaterial ESGL EPC associates Total 2021 RM’000 RM’000 RM’000 RM’000 Assets and liabilities Non-current assets 1,850 2,131 2 3,983 Current assets 34,060 2,038 3,958 40,056 Non-current liabilities (6,042) - - (6,042) Current liabilities (12,732) (5,767) (6,751) (25,250) Net assets/(liabilities) 17,136 (1,598) (2,791) 12,747 Carrying amount of the investments in associates (including goodwill) 6,383 - - 6,383 NOTES TO THE FINANCIAL STATEMENTS 133 P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 31 December 2021 (cont’d)
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