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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
12. INVESTMENT IN AN ASSOCIATE
The Group
2016
2015
RM
RM
Unquoted shares
- at cost
1,193,279
1,193,279
Share of post-acquisition results
282,302
390,827
Foreign currency translation differences
522,925
425,328
1,998,506
2,009,434
The summarised financial information of the associate that is material to the Group is as follows:-
The Group
2016
2015
RM
RM
Current assets
2,064,278
1,939,627
Non-current assets
4,313,104
4,265,548
Current liabilities
(2,568,802)
(1,968,187)
Non-current liabilities
(54,807)
(435,820)
Net assets
3,753,773
3,801,168
Revenue
2,288,827
2,678,167
(Loss)/Profit for the year
(221,479)
51,400
Group’s share of results for the year
(108,525)
25,186
Details of the associate are as follows:
Name of
Associate
Principal
Place of
Business
Effective
Equity
Interest
Principal Activities
2016
2015
%
%
Indirect Associate
Frontken (Thailand)
Co., Ltd.
Thailand
49
49 Provision of surface metamorphosis technology
using thermal spray coating processes and a
series of complementary processes including
mechanical and chemical engineering works.
Notes To The Financial Statements
(cont’d)