ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 95 NOTES TO THE FINANCIAL STATEMENTS 31 March 2020 7. INVESTMENTS IN SUBSIDIARIES (Cont’d) e. The subsidiaries of the Group that have material non-controlling interests (“NCI”) are as follows (Cont’d): The summarised financial information before intra-group elimination are as follows (Cont’d): ENRA SPM Sdn. Bhd. Group RM’000 Fitzrovia Developments Limited RM’000 ENRA IOL Sdn. Bhd. RM’000 Abode Senior Living Limited Group RM’000 Q Homes Sdn. Bhd. Group RM’000 2019 Assets and liabilities Non-current assets 82,746 - - - - Current assets 13,320 49,651 1,346 - - Non-current liabilities (57,746) - - - - Current liabilities (37,812) (47,757) (171) - - Net assets 508 1,894 1,175 - - Results Revenue 46,365 - - - - Profit/(Loss) for the financial year 436 (11,660) (25) - - Total comprehensive income/(loss) 436 (11,660) (25) - - Cash flows from/(used in) operating activities 30,719 (8,293) (735) - - Cash flows from investing activities 729 13,270 - - - Cash flows (used in)/from financing activities (29,987) (5,745) 1,200 - - Net increase/(decrease) in cash and cash equivalents 1,461 (768) 465 - - f. The annual impairment review conducted at the end of the financial year is performed by comparing the subsidiaries’ carrying amounts and their recoverable amounts determined based on value in use calculation using cash flow projections covering five years period with a terminal value based on year five results. There is no impairment loss to be recognised in the current financial year. The pre-tax discount rate applied to the cash flow projections and the forecasted growth rate used to extrapolate cash flows beyond the five years period are as follows: Company 2020 2019 Growth rate 5% 2.5% Pre-tax discount rate 12% 7.0% - 7.5% Sensitivity to changes in assumptions The management believes that a reasonably possible change in the key assumptions on which management has based its determination of the subsidiaries’ recoverable amounts would not cause the subsidiaries’ carrying amounts to further exceed their recoverable amounts.