241 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025 06 / FINANCIAL STATEMENTS 01 02 03 04 05 07 08 09 14. INVESTMENT IN ASSOCIATES (CONT’D.) (a) Details of the associates are as follows: Name Principal place of business Principal activities Effective equity interest 2025 % 2024 % Kenanga Investment Corporation Ltd *# Sri Lanka Investment banking related activities - 45.0 Al Wasatah Al Maliah Company * (“Wasatah Capital”) Kingdom of Saudi Arabia Dealing, custody, arranging, managing investment and operating funds 29.6 29.6 Kenanga Capital Islamic Sdn Bhd *^ Malaysia Islamic factoring and leasing - 20.0 Kinetic Dax Sdn Bhd (formerly known as Tokenize Technology (M) Sdn Bhd) * Malaysia Market Operators for Digital Asset Exchanges 19.0 19.0 * Audited by firms other than Messrs. Ernst & Young PLT. # On 25 March 2025, K & N Kenanga Holdings Berhad (“KNKH”), a wholly-owned subsidiary of the Bank, had fully disposed its 4,500,000 shares in Kenanga Investment Corporation Limited (“KICL”) representing 45% of the issued and paid up share capital of KICL for a total consideration of LKR34,470,000. Arising therefrom, KICL ceased to be an associate company of KNKH. The disposal resulted in a net loss of RM99,000 to the Group. The details of the disposal of KICL is as follows: RM’000 Sales proceeds 515 Less: Unquoted shares at cost 1,399 Share of post acquisition losses (248) Foreign exchange differences (435) Dividend received (102) Net assets 614 Net loss on disposal (99)
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