220 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʧ (cont’d) 9. INVESTMENT IN JOINT VENTURES Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Unquoted shares, at cost 12,764 12,764 12,249 12,249 Share of post-acquisition losses (2,260) (2,950) - - 10,504 9,814 12,249 12,249 Details of the joint ventures are as follows: Name of joint venture Place of business/ Country of incorporation Effective interest (%) Principal activities 2024 2023 MYEG Philippines, Inc. (“MYEG Philippines”) ^ Philippines 49 49 Development and implementation of Electronic Government services project and provision of other related services including payment services in the Republic of the Philippines. Joint venture of MYEGBD MYEGBD MYEG (BD) Ltd. # Bangladesh 40 40 Engaging in the business of technology services and e-Government services in Bangladesh. ^ Not audited by TGS TW PLT. # This joint venture was accounted for under equity method using the unaudited management accounts of which the financial statements are not material to the Group. (a) The Group’s involvement in joint arrangements are structured through separate vehicles which provide the Group rights to the net assets of the entities. Accordingly, the Group has classified these investments as joint ventures.
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