My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 166 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 6. 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 financial information of the associate that is material to the Group is as follows:- MINT Unaudited 2020 Audited 2019 RM’000 RM’000 Non-current assets 100 731 Current assets 907 915 Non-current liabilities - (83) Current liabilities (142,041) (142,319) Net liabilities (141,034) (140,756) 12-month Year Ended 31 December/15-month Period Ended 31 December Revenue - - Loss during the financial year/period/Total comprehensive expenses (278) (548) Group’s share of losses for the financial year/period/Total comprehensive expense - - Reconciliation of Net Liabilities to Carrying Amount Group’s share of net liabilities (56,414) (56,302) Share of losses recognised 400 400 Share of losses in excess of the interest in the associate not recognised 56,014 55,902 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 RM56.0 million (2019 - RM55.9 million), of which approximately RM112,000 relates to the share of the current financial year’s losses. The Group has no obligations in respect of these losses.