NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 11. OTHER INVESTMENTS Group 2023 2022 RM’000 RM’000 At fair value through other comprehensive income (“FVTOCI”) Unquoted shares in Malaysia 195,736 201,085 Unquoted shares outside Malaysia 32,983 34,633 Investment in limited partnership outside Malaysia 4,729 - 233,448 235,718 At fair value through profit or loss (“FVTPL”) Quoted shares in Malaysia 10 - 233,458 235,718 The Group has designated the unquoted equity investments and investment in limited partnership at FVTOCI because the Group intends to hold for long-term strategic purposes. During the financial year (a) During the financial year, unquoted equity investments with total carrying amount of approximately RM11,425,000 were transferred from level 3 to level 2 as there is a change in valuation technique from income approach to market approach. In the previous financial year (a) On 4 July 2022, the management had reclassified investment in Agmo to FVTPL and no changes in fair value at the date of reclassification. (b) On 18 August 2022, Agmo was listed on the ACE Market of the Bursa Malaysia Securities Berhad. (c) On 23 December 2022, the Company proposed to distribute 84,000,000 ordinary shares in Agmo, representing the entire 25.8% equity interest in Agmo held through MYEGC, a wholly-owned subsidiary of the Company, to entitled shareholders of the Company in two (2) separate tranches by way of a dividendin-specie. As a result, the investment in Agmo was reclassed to asset held for sale as at reporting date. 214 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) O INVESTMENTS
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