NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 19. INVESTMENT IN AN ASSOCIATE (CONT’D.) Details of the associate are as follows: Country of Equity interest Name of associate incorporation Principal activity held (%) 2024 2023 Agile Tropicana Development Sdn Bhd Malaysia Property development – 30 (“ATROP”) The associate has been accounted for using the equity method of accounting. The summarised financial information of the associate is as follows: Group 2024 2023 RM’000 RM’000 Non-current assets – 1,926 Current assets – 595,436 Non-current liabilities – (290,154) Current liabilities – (88,491) Net assets – 218,717 Revenue – 278,927 Loss before tax – (279,990) Loss after tax, representing total comprehensive loss – (288,207) Group’s share of results – (86,462) Reversal of unrealised profits – 18,499 Adjusted Group’s share of results – (67,963) The associate had no contingent liabilities or capital commitments as at 31 December 2024 and 31 December 2023. 20. INVESTMENTS IN JOINT VENTURES Group 2024 2023 RM’000 RM’000 Unquoted shares, at cost 144,243 144,243 Amount due from a joint venture – 1,506 Share of post-acquisition results and reserves 198,225 192,759 Dividend received from joint ventures (74,647) (47,527) Unrealised profits arising from transaction with a joint venture (791) (2,593) 267,030 288,388 Represented by: Share of net assets 267,030 288,388 ANNUAL REPORT 2024 298
RkJQdWJsaXNoZXIy NDgzMzc=