MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 188 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 6. INVESTMENTS IN ASSOCIATES (CONT’D) (c) The summarised unaudited financial information of the associate that is material to the Group is as follows:- PT Cartenz 2021 2020 RM’000 RM’000 Non-current assets 2,271 7,666 Current assets 7,831 1,808 Non-current liabilities (6,489) (5,708) Current liabilities (6,265) (2,389) Net (liabilities)/assets (2,652) 1,377 Financial year ended 31 December Revenue 5,449 6,825 Loss for the financial year/Total comprehensive expenses (4,024) (4,932) Group’s share of losses for the financial year/Total comprehensive expenses (765) (937) Reconciliation of Net (Liabilities)/Assets to Carrying Amount Group’s share of net (liabilities)/assets (503) 261 Goodwill 12,516 12,516 Add: Deposits for future stock subscriptions in this associate 4,087 - Carrying amount of the Group’s interest in this associate 16,100 12,777 On 22 July 2019, MYEGIND entered into a Share Subscription Agreement with PT Cartenz. The Company will hold 40% equity interest in PT Cartenz for a total cash consideration of USD10.0 million upon fulfilment of all conditions. As at the end of the previous financial year, the total investments made by the Company amounted to USD3.5 million (approximately RM14.9 million), representing 19% equity interest. During the financial year, MYEGIND further invested USD 1 million (approximately RM4.1 million) as part of the required capitalisation subject to the fulfilment of the conditions as stated in the Share Subscription Agreement. MYEGIND will further invest the required capital subject to the fulfilment of the conditions as stated in the Share Subscription Agreement amounting to USD 6.5 million (approximately RM26.1 million). (d) The summarised financial information has not been presented for MYAM as it is not individually material to the Group. The Group has not recognised losses relating to MYAM, where its share of losses exceeds the Group’s interest in this associate. The Group’s cumulative share of unrecognised losses at the end of the reporting period was RM10,918 (2020 - RM8,072), of which RM2,846 (2020 - RM2,399) was the share of the current financial year’s losses. The Group has no obligation in respect of these losses. (e) The summarised financial information has not been presented for DKSB as it is not individually material to the Group.
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