My EG Services Berhad Annual Report 2019

MY E.G. SERVICES BERHAD [Registration No. 200001003034 (505639-K)] 138 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) 7. INVESTMENTS IN ASSOCIATES (CONT’D) (a) Although the Group holds less than 20% of the voting power in PT Cartenz, the Group has determined that it has significant influence over the financial and operating policies of the associate through representation on the associate’s board of directors. (b) The summarised unaudited financial information for the associate that is material to the Group is as follows:- MINT 31.12.2019 30.9.2018 RM’000 RM’000 Non-current assets 786 1,206 Current assets 885 1,058 Non-current liabilities (83) (189) Current liabilities (142,289) (142,283) Net liabilities (140,701) (140,208) 15-month Period Ended 31 December/30 September Revenue - - Loss during the financial period/Total comprehensive expenses (493) (70,583) Group’s share of losses for the financial period/Total comprehensive expense - - Reconciliation of Net Liabilities to Carrying Amount Group’s share of net liabilities (56,280) (56,083) Share of losses recognised 400 400 Share of losses in excess of the interest in the associate not recognised 55,880 55,683 Carrying amount of the Group’s interest in this associate - - The Group has not recognised losses relating to MINT, where its share of losses exceeded the Group’s interest in this associate. The Group’s cumulative share of unrecognised losses at the end of the reporting period was RM55.9 million (2018 - RM55.7 million), of which approximately RM197,000 relate to the share of the current financial period’s losses. The Group has no obligations in respect of these losses.