NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 8. INVESTMENT IN ASSOCIATES Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Unquoted shares, at cost 756 436 400 400 Share of post-acquisition losses (404) (403) - - 352 33 400 400 Accumulated impairment losses - - (400) (400) 352 33 # - Share of post-acqusition results At beginning of the financial year 403 3,249 - - Share of loss 1 - - - Disposal - (2,846) - - At end of the financial year 404 403 - - # - represents an amount less than RM1,000. Details of the associates are as follows: Name of Associate Place of business/Country of incorporation Effective interest (%) Principal activities 2023 2022 Associates of Company MY E.G. Integrated Networks Sdn. Bhd. (“MINT”) Malaysia 40 40 Provision of software and hardware solutions and related services. Zetrix Fintech Sdn. Bhd. (“ZFSB”) * Malaysia 40 - Provision of digital solutions and ancillary services and investment holding company Associates of MYEGC My AdMarket Sdn. Bhd. (“MYAM”) Malaysia 40 40 Activities of holding companies. Dinamik Koridor Sdn. Bhd. (“DKSB”) Malaysia 33 33 Activities of holding companies. Associate of MYEGIND PT Cartenz Inti Utama (“PT Cartenz”) * Indonesia - - Engaged in development, trading, industry and service. Associate of MYEGT MY EG (Thailand) Co., Ltd. (“MTCL”) Thailand 49 - Trading and investment company. * These associates were consolidated using the unaudited management accounts of which the financial statements are not material to the Group. ANNUAL REPORT 2023 ANNUAL REPORT 2023 209 FINANCIAL STATEMENTS
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