ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 223 INTEGRATED ANNUAL REPORT 2026 21. INVESTMENT IN JOINT VENTURES (CONTINUED) (a) In the current financial year, movement in the investment in joint ventures includes the following: (continued) (ii) On 31 October 2025, Green EV Charge Sdn Bhd (“GEVCSB”), a non-wholly-owned subsidiary of the Company, subscribed for 400 ordinary shares, representing 40% equity interest in Terra ChargEV Sdn Bhd for a total cash consideration of RM400. (b) In the previous financial year, movement in the investment in joint ventures includes the following: (i) On 31 January 2025, YBC was deconsolidated from a subsidiary and reclassified as an investment in a joint venture of the Group. The joint venture is initially recognised at its fair value of RM1,755 million. Refer to Note 50(g) for details on loss on control during the current financial year. (ii) On 8 May 2024, the Group concluded that it had obtained control over Shift Clean Solutions Ltd (“SCSL”) as the revised Shareholders’ Agreement (“SHA”) had granted YHB Group a majority representation on SCSL’s Board of Directors. This has resulted in a step-up acquisition, whereby SCSL, previously carried at RM106 million, became a subsidiary of the Group. Refer to Note 49(d) for details on the acquisition. (iii) On 10 July 2024, Yinson Green Technologies (M) Sdn. Bhd. (“YGTMSB”), an indirect wholly-owned subsidiary of the Company, subscribed for 354,911 additional ordinary shares in eMooVit Technology Sdn. Bhd. (“eMooVit”) for a total cash consideration of RM0.5 million. As a result, the equity interest in eMooVit held by YGTMSB has increased from 66.1% to 67.2%. On 23 September 2024, YGTMSB subscribed for an additional 354,911 ordinary shares in eMooVit for a total cash consideration of RM0.5 million. As a result, the equity interest in eMooVit has increased from 67.2% to 68.3% and eMooVit remains as a joint venture. On 11 November 2024, YGTMSB subscribed for an additional 354,911 ordinary shares in eMooVit for a total cash consideration of RM0.5 million. As a result, the equity interest in eMooVit has increased from 68.31% to 69.33% and eMooVit remains as a joint venture. (iv) On 18 March 2024, YR Malaysia Pte. Ltd., an indirect wholly-owned subsidiary of the Company, has subscribed for 300,000 additional ordinary shares in Rosa RE Pte. Ltd. (“Rosa RE”) for a total cash consideration of SGD300,000 (approximately RM1 million). The equity interest in Rosa RE remains unchanged at 40% after the additional investment and Rosa RE remains as a joint venture. (v) On 6 September 2024, the equity interest in Majes Sol. De Verano S.A.C (“Majes”) has increased from 51% to 100%. The Group has concluded that it had obtained control in Majes. Accordingly, the Group’s investment in Majes of RM11 million was reclassified from joint venture to wholly-owned subsidiary. See Note 49(e) for more details. (c) During the current financial year, an impairment loss of RM3 million (2025: RM3 million) was recognised in respect of certain joint ventures, as their recoverable amounts were estimated to be lower than their carrying amount. The Group’s equity interest, principal activities and countries of incorporation of its joint ventures are disclosed in Note 51. (d) Summarised financial information of the material joint ventures, based on its MFRS/IFRS financial statements is set out below: (i) Yinson Boronia Consortium Pte. Ltd. (“YBC”) and its subsidiaries 2026 RM million 2025 RM million Summarised statement of financial position: Current assets* 687 626 Non-current assets 5,995 6,703 Current liabilities (483) (219) Non-current liabilities (3,797) (4,333) Net assets 2,402 2,777 Proportion of the Group’s ownership 63.2% 63.2% Group’s share of net assets and carrying amount of the investment 1,518 1,755 * Included in current assets is cash and bank balances of RM340 million (2025: RM206 million).
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