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FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT
2015
12.
INVESTMENTS IN AN ASSOCIATE (CONT’D)
The summarised financial information of the associate that is material to the Group is as follows:-
The Group
2015
2014
RM
RM
Current assets
1,939,627
1,374,866
Non-current assets
4,265,548
4,032,407
Current liabilities
(1,968,187)
(1,694,650)
Non-current liabilities
(435,820)
(372,617)
Net assets
3,801,168
3,340,006
Revenue
2,678,167
2,030,737
Profit for the year
51,400
51,696
Group’s share of results for the year
25,186
25,331
Details of the associate are as follows:
Name of
Associate
Principal
Place of
Business
Effective
Equity
Interest
Principal Activities
2015
2014
%
%
Indirect Associate
Frontken (Thailand)
Co., Ltd.
Thailand
49
49 Provision of surface metamorphosis technology
using thermal spray coating processes and a
series of complementary processes including
mechanical and chemical engineering works.
Amount owing by an associate
The Group
2015
2014
RM
RM
Amount owing by associate
- Trade
920,573
827,467
- Non-trade
409,567
356,295
1,330,140
1,183,762
The normal trade credit terms granted to associate range from 30 to 90 days (2014: 30 to 90 days).
NOTES TO THE FINANCIAL STATEMENTS
(cont’d)