My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 137 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) FINANCIAL STATEMENTS 6. INVESTMENTS IN SUBSIDIARIES (CONT’D) (b) In the previous financial period:- (cont’d) (xi) On 28 September 2018, MYEGC acquired 1 ordinary share, representing 100% of equity interest in MYDC for a total cash consideration of RM1. (c) Summarised financial information of non-controlling interests has not been presented as the non-controlling interests of the subsidiaries are not individually material to the Group. 7. INVESTMENTS IN ASSOCIATES The Group The Company 31.12.2019 30.9.2018 31.12.2019 30.9.2018 RM’000 RM’000 RM’000 RM’000 Unquoted shares, at cost 15,261 400 400 400 Share of post-acquisition losses (1,547) (400) - - 13,714 - 400 400 Accumulated impairment losses - - (400) - 13,714 - - 400 The details of the associates are as follows:- Name of Associate Principal Place of Business Effective Equity Interest Principal Activities 2019 2018 Associate of the Company MY E.G. Integrated Networks Sdn. Bhd. (“MINT”)* Malaysia 40% 40% Provision of software and hardware solutions and related services. Associate of MYEGC My AdMarket Sdn. Bhd. (“MYAM”) Malaysia 40% 40% Investment holding. Associate of MYEGIND PT Cartenz Inti Utama (“PT Cartenz”)* Indonesia 19% - Engaged in development, trading, industry and service. * These associates were audited by other firms of chartered accountants.