ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 229 INTEGRATED ANNUAL REPORT 2026 22. INVESTMENT IN ASSOCIATES (CONTINUED) (d) The summarised financial information of the material associates, based on its MFRS/IFRS financial statements is set out below: (continued) (i) Lianson Fleet Group Berhad (“LFG”) (continued) 2026 RM million Summarised statement of comprehensive income: Revenue 290 Cost of sales* (199) Interest income 2 Other income 137 Administrative expenses (31) Impairment loss (20) Finance costs (16) Profit before tax 163 Income tax expense (8) Profit for the financial year 155 Other comprehensive loss (2) Total comprehensive income 153 Group’s share of profit for the financial year 24 Group’s share of other comprehensive loss - Group’s share of total comprehensive income 24 Dividend received from joint venture 4 * Included in cost of sales is depreciation of RM74 million. The financial year end date of LFG is 31 December. This was the reporting date established when that entity was incorporated, and a change of reporting date is not practicable as LFG is a listed entity with established statutory reporting deadlines. For the purposes of applying the equity method of accounting, the financial statements of LFG for the year ended 31 December 2025 have been used. As at 31 January 2026, the fair value of the group’s interest in LFG, which is listed on the stock exchange of Malaysia was RM369 mil (2025: RM181 mil) based on the quoted market price available on the stock exchange of Malaysia, which is a Level 1 input in terms of MFRS 13. No summarised profit or loss for financial year ended 31 January 2025 is disclosed as the Group obtained significant influence and LFG became an associate only on 31 January 2025. Refer to Note 50(i) for further details. Included in the carrying amount of the investment as at 31 January 2026 is RM13.1 million, representing the notional fair value uplift to the underlying net assets of LFG upon investment. (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: 2026 RM million 2025 RM million Carrying amount 38 56 Share of loss (6) (11) Share of other comprehensive loss - (27) Share of total other comprehensive loss (6) (38)
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