MKH Annual Report 2017

16. INVESTMENT IN ASSOCIATES The Group 2017 2016 RM RM At cost: Unquoted shares 8,660,000 6,700,000 Share of post-acquisition reserves 5,229,807 7,435,951 13,889,807 14,135,951 The details of the associates, incorporated in Malaysia, are as follows: Proportion of ownership interest and voting power held by the Group Name of associate Principal activities 2017 2016 Financial year end *Rimbunan Melati Sdn. Bhd. Property development 45% 45% 31 December (“RMSB”) ^Rafflesia School (Kajang) Education centre and tenant 20% 20% 31 December Sdn. Bhd. of the Group’s investment property ~Panahome MKH Malaysia General construction 49% 49% 31 March Sdn. Bhd. * Interest held through Dapat Jaya Builder Sdn. Bhd. ^ Interest held through Metro Tiara (M) Sdn. Bhd. ~ Interest held through Kajang Resources Corporation Sdn. Bhd. (“KRC”). In the current financial year, KRC subscribed for 1,960,000 (2016: 2,450,000) new ordinary shares in the associate. The above associates are accounted for using the equity method in the consolidated financial statements. Notes to the Financial Statements For the Financial Year ended 30 September 2017 146 MKH Berhad • Annual Report 2017