20. INVESTMENTS IN JOINT VENTURES (CONT’D.) During the financial year: (i) The Group received dividend amounting to RM4,080,000 (2024: RM6,120,000) from Tropicana Temokin Sdn Bhd; (ii) Tropicana Temokin Sdn Bhd redeemed 13,005,000 (2024: nil) RNCPS from the Group for a total consideration of RM13,005,000 (2024: RM nil); and (iii) The Group received dividends amounting to RM nil (2024: RM21,000,000) from Tropicana Danga Cove Sdn Bhd. Details of the joint ventures are as follows: Equity interest held Name of joint ventures Country of incorporation Principal activities 2025 % 2024 % Tropicana Danga Cove Sdn Bhd (“TDCSB”) Malaysia Property development and property investment 50 50 Tropicana Temokin Sdn Bhd (“TTSB”) Malaysia Property development 51 51 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 2025 RM’000 2024 RM’000 2025 RM’000 2024 RM’000 Non-current assets - 20 482,968 484,032 Current assets 41,607 82,236 27,973 33,307 Non-current liabilities - - (25,558) (28,469) Current liabilities (19,994) (29,003) (3,496) (9,128) Net assets 21,613 53,253 481,887 479,742 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 AR 2025 | FINANCIAL STATEMENT & OTHER INFORMATION 324
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