230 YINSON HOLDINGS BERHAD ACCOUNTABILITY 22. INVESTMENT IN ASSOCIATES (CONTINUED) (b) In the previous financial year, movement in the investment in associates includes the following: (continued) (viii) On 29 November 2023, YPOPL, an indirect wholly-owned subsidiary of the Company, subscribed for 877,918 shares of Series A-3 preferred stock, each with a par value of USD1.00 in Ionada PLC (“Ionada”), representing 4.77% shareholding interest in Ionada for a total cash consideration of USD2.2 million (RM10.3 million). (c) During the current financial year, a net impairment loss of RM3 million (2024: RM6 million) was recognised in respect of certain associates, as their recoverable amounts were estimated to be lower than their respective carrying amounts. The Group’s equity interest, principal activities and countries of incorporation of its associates are disclosed in Note 49. (d) The summarised financial information of the material associates, based on its MFRS/IFRS financial statements is set out below: (i) Lianson Fleet Group Berhad (“LFG”) 2025 RM million Summarised statement of financial position: Current assets* 170 Non-current assets 905 Current liabilities (106) Non-current liabilities (167) Net assets 802 Proportion of the Group’s ownership 22.57% Carrying amount of the investment 181 * Included in current assets are cash and bank balances of RM74 million. No summarised profit or loss is disclosed as the Group obtained significant influence and LFG became an associate only on 31 January 2025. Refer to Note 48(c) for further details. The Group is currently in the process of finalising the detailed notional purchase price allocation relating to the investment in associate. As at 31 January 2025, the total fair value of the Group’s investment in LFG was RM181 million. (ii) Investment in other associates The following table summarises, in aggregate, the financial information of all individually immaterial associates of the Group that are accounted for using the equity method: 2025 RM million 2024 RM million Carrying amount 56 62 Share of loss (11) (18) Share of other comprehensive (loss)/income (27) 13 Share of total other comprehensive loss (38) (5)
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