208 MKH BERHAD | ANNUAL REPORT 2023 16. INVESTMENT IN ASSOCIATES The Group 2023 2022 RM RM At cost: Unquoted shares 25,333,996 13,285,045 Additions - 12,048,951 Capital reductions (3,600,000) - 21,733,996 25,333,996 Share of post-acquisition reserves 3,895,455 600,897 25,629,451 25,934,893 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 2023 2022 Financial year end Ω# Daksina Harta Sdn. Bhd. (“DHSB”) Property development and property investment 40% 40% 31 December ~ Panasonic Homes MKH Malaysia Sdn. Bhd. (“PHMMSB”) General construction 49% 49% 31 March *# Rimbunan Melati Sdn. Bhd. (“RMSB”) Property development 45% 45% 31 December ∆# Sunway MKH Marketing Sdn. Bhd. (“SMMSB”) Trading of building materials and household related products 49% 49% 31 December Ω Interest held through Perkasa Bernas (M) Sdn. Bhd.. ~ Interest held through Kajang Resources Corporation Sdn. Bhd.. * Interest held through Dapat Jaya Builder Sdn. Bhd.. ∆ Interest held through MKH Building Materials Sdn. Bhd.. # Audited by firms of auditors other than Deloitte PLT. 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 2023
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