20. INVESTMENTS IN JOINT VENTURES (CONT’D.) The amount due from a joint venture represents outstanding amount arising from the Group’s proportionate share in the advances and working capital to the joint venture. The amount due from the joint venture was unsecured, non-interest bearing and was not repayable within the next twelve (12) months. The Group views these advances as part of the Group’s investment in the joint venture. Details of the joint ventures are as follows: Country of Equity interest Name of joint ventures incorporation Principal activities held (%) 2024 2023 Tropicana Danga Cove Sdn Bhd Malaysia Property development and 50 50 (“TDCSB”) property investment Tropicana Temokin Sdn Bhd Malaysia Property development 51 51 (“TTSB”) All the joint ventures have been accounted for using the equity method of accounting. (a) Summarised financial information of joint ventures are set out below. The summarised financial information represents the amounts in the financial statements of the joint ventures and not the Group’s share of those amounts: (i) Summarised statements of financial position TTSB TDCSB 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Non-current assets 20 10 484,032 481,718 Current assets 82,236 83,351 33,307 94,425 Non-current liabilities – (12,123) (28,469) (28,469) Current liabilities (29,004) (21,936) (9,128) (21,186) Net assets 53,252 49,302 479,742 526,488 (ii) Summarised statements of comprehensive income/(loss) TTSB TDCSB 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Revenue 49,942 92,162 4,244 47,596 Profit/(loss) before tax 23,848 26,629 (2,031) 16,287 Profit/(loss) after tax, representing total comprehensive income/(loss) 15,373 20,384 (4,746) 14,691 FINANCIAL STATEMENTS & OTHER INFORMATION 299
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