MKH Annual Report 2018

148 MKH Berhad Annual Report 2018 16. INVESTMENT IN ASSOCIATES The Group 2018 2017 RM RM At cost: Unquoted shares 6,660,000 8,660,000 Share of post-acquisition reserves 7,590,386 5,229,807 14,250,386 13,889,807 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 2018 2017 Financial year end *Rimbunan Melati Sdn. Bhd. Property development 45% 45% 31 December (“RMSB”) ^Ra esia School (Kajang) Education centre and - 20% 31 December Sdn. Bhd. tenant of the Group’s investment property ~Panasonic Homes MKH General construction 49% 49% 31 March Malaysia Sdn. Bhd. (formerly known as Panahome MKH Malaysia Sdn. Bhd.) * Interest held through Dapat Jaya Builder Sdn. Bhd. ^ Interest disposed at cash consideration of RM2,000,000 as disclosed in Note 36 (c). ~ Interest held through Kajang Resources Corporation Sdn. Bhd. (“KRC”). The above associates are accounted for using the equity method in the consolidated financial statements. FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018 NOTES TO THE FINANCIAL STATEMENTS