NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 221 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 14. INVESTMENTS IN ASSOCIATES (CONT’D.) (b) Summarised financial information of the material associate is as follows (cont’d.): (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2023 RM’000 2022 RM’000 Revenue 54,632 70,091 Profit before taxation 30,570 38,416 Tax expense (1,616) (3,577) Profit after taxation 28,954 34,839 Other comprehensive income 33,005 189 Total comprehensive income 61,959 35,028 (iii) Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest in the material associate Wasatah Capital 2023 RM’000 2022 RM’000 Net assets at 1 January 367,557 312,124 Profit before taxation 30,570 38,416 Other comprehensive income 33,005 189 Movement of foreign exchange reserve 15,794 16,828 Net assets at 31 December 446,926 367,557 Interest in Wasatah Capital 29.60% 29.60% Share of net assets at 31 December 132,290 108,797 Dividend received (2,080) - Accumulated Group’s share of tax expense (6,648) (5,031) Accumulated impairment losses (4,549) (4,549) Carrying value of the Group’s interest in Wasatah 119,013 99,217 Carrying value of other associates 2,606 466 Total carrying value of Group’s interest in associates 121,619 99,683 (c) Aggregate information of associates that are not individually material 2023 RM’000 2022 RM’000 The Group’s share of results in associates, inclusive of total comprehensive income 272 8
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