226 YINSON HOLDINGS BERHAD ACCOUNTABILITY 21. INVESTMENT IN JOINT VENTURES (CONTINUED) (d) Summarised financial information of the material joint ventures, based on its MFRS/IFRS financial statements is set out below: (continued) (iii) Shift Clean Solutions Ltd 2025 RM million 2024 RM million Summarised statement of financial position: Current assets* - 47 Non-current assets - 188 Current liabilities - (23) Non-current liabilities - (60) Net assets - 152 Proportion of the Group’s ownership - 44% Carrying amount of the investment - 67 * Included in current assets for the previous financial year was cash and bank balances of RM1 million. 2025# RM million 2024^ RM million Summarised statement of comprehensive income: Revenue 5 4 Cost of sales (6) (14) Administrative expenses* (6) (36) Loss before tax (7) (46) Income tax expense - - Loss for the year (7) (46) Other comprehensive (loss)/income (2) 17 Total comprehensive loss (9) (29) Group’s share of loss for the financial year (4) (14) Group’s share of other comprehensive (loss)/income (1) 7 Group’s share of total comprehensive loss (5) (7) * Included in administrative expense is depreciation of RM1 million (2024: RM7 million). # Statement of comprehensive income for the financial year ended 31 January 2025 related to the financial results up to 8 May 2024 when it was accounted for as a joint venture. On 8 May 2024, it became a subsidiary of the Group and the Group no longer recognises a share of its profit or loss (Note 47(a)). ^ Group’s share of loss for the financial year ended 31 January 2024 included the effect of the changes in shareholding during the financial year (Note 21(b)(ii)) and included in RM14 million was RM11 million when it was an associate.
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