NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 9. INVESTMENT IN JOINT VENTURES (CONT’D) (b) The summarised unaudited financial information for the material joint venture of the Group is as follows: MYEG Philippines 2023 2022 RM’000 RM’000 Financial position Non-current assets 2,131 2,098 Current assets 18,487 9,452 Non-current liabilities (86) (2,682) Current liabilities (13,931) (6,268) Net assets 6,601 2,600 Financial performance Revenue 24,417 16,182 Loss/Total comprehensive loss during the financial year (1,088) (310) Group’s share of losses/total comprehensive loss for the financial year (435) (124) Reconciliation of net liabilities to carrying amount Group’s share of net assets 2,641 1,040 Add: Deposits for future stock subscriptions 86 7,931 Carrying amount of the Group’s interest in this joint venture 2,727 8,971 (c) The summarised financial information has not been presented for MYEG (BD) Ltd. as it is not material to the Group. (d) Material accounting policy information Investment in joint ventures are measured in the Group’s and the Company’s statement of financial position at cost less any impairment losses. 10. GOODWILL ON CONSOLIDATION Group 2023 2022 RM’000 RM’000 Cost At 1 January 20,097 20,097 Accumulated impairment losses (95) (95) At 31 December 20,002 20,002 Goodwill on consolidation is stated at cost and arose from the acquisition of the subsidiaries. 212 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) S T O T S (CO )
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