Registration No. 200301030845 (633265-K) - 87 - 7. Investment in Associates 2022 2021 2022 2021 Outside Malaysia RM RM RM RM At cost Unquoted shares 315,406 315,406 - - Share of post acquisition reserve (315,406) (315,406) - - - - - - Group Company Details of the associates are as follows: Country of Name of company incorporation 2022 2021 Principal activities % % Emirates Kejuruteraan 49 49 Provides oil and gas Samudra Timur production facilities Berhad Petroleum operation and maintenance Services L.L.C.* services, and onshore and offshore, oil fields and facilities services TF Emirates Marine 49 49 Engaged in the business of Services L.L.C.* onshore and offshore oil and gas fields and facilities services, marine machines and equipment repairing and maintenance, repair and maintenance of engine ships * Associates not audited by UHY equity interests Effective Emirates of Abu Dhabi Emirates of Abu Dhabi The offshore project that an associate, Emirates Kejuruteraan Samudra Timur Berhad Petroleum Services L.L.C. (“EKSTB”) had ventured into previously has been called off during the financial year due to project feasibility and economic viability. As such, the Company is not expected to share any gain or loss in EKSTB as EKSTB is remained inactive and does not incurred any operating nor administrative cost during the financial year. Summarised financial information of the Group’s associate, TF Emirates Marine Services L.L.C. (“TFEMS”) is set out below. The summarised financial information represents the amounts in the MFRS financial statements of the associates and not the Group’s share of those amounts. 165 ANNUAL REPORT 2022 DESTINI BERHAD
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