Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 127 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 13. INVESTMENTS IN SUBSIDIARIES (CONT’D) The summarised financial information (before intra-group elimination) for each subsidiary that has non-controlling interests that are material to the Group is as follows: (Cont’d) TTES 2022 2021 RM RM At 31 December Non-current assets 5,174,835 3,950,428 Current assets 24,208,100 14,383,772 Non-current liabilities (598,656) (278,277) Current liabilities (15,611,046) (7,612,111) Net assets 13,173,233 10,443,812 Financial Year Ended 31 December Revenue 59,379,479 33,745,892 Profit for the financial year 5,729,421 2,843,706 Total comprehensive income 5,729,421 2,843,706 Total comprehensive income attributable to non-controlling interests 3,151,181 1,564,038 Dividends paid to non-controlling interests (1,650,000) (825,000) Net cash from operating activities 2,643,926 2,655,627 Net cash for investing activities (1,048,543) (2,613,409) Net cash for financing activities (2,035,888) (1,038,983) During the financial year, in the month of January 2022, the Company acquired 240,857 ordinary shares of NT$10 each representing 0.71% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$31,311,410 (including incidental costs) (equivalent to RM4,739,381). Following the acquisition, the Group’s interest in AGTC increased from 91.79% to 92.50%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM322,615,634. The Group recognised a decrease in non-controlling interests of RM2,495,447 and a decrease in retained earnings of RM2,243,934. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company: AGTC 2022 RM Equity interest at 1 January 2022 322,615,634 Effect of increase in Company’s ownership interest 2,495,447 Share of comprehensive income 77,122,450 Equity interest at 31 December 2022 402,233,531
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