KUB Malaysia Berhad Annual Report 2021

19. INVESTMENT IN ASSOCIATES (cont’d) (iii) Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest in associates. 25.6.2020 31.12.2019 (6 months) (12 months) RM’000 RM’000 Net assets as at 1 January 119,249 106,066 Profit for the period/year 9,631 13,183 Less: Dividend for the period/year (5,175) - Net assets as at 25 June/31 December 123,705 119,249 Interest in associate 40% 40% Carrying value of Group’s interest in associates 49,482 47,700 (iv) There is no financial information available for the associates that are not individually material as at 30 June 2021. These associates are dormant companies and the Group and Company have fully impaired the carrying amount for these associates in profit or loss. 20. OTHER INVESTMENTS Group/Company 30.6.2021 31.12.2019 RM’000 RM’000 Investments in equity instruments designated as FVTOCI - quoted shares in Malaysia 5,195 5,339 Investments in equity instruments designated as FVTPL - unquoted shares 1,429 1,657 Total other investments 6,624 6,996 The investments in quoted shares are not held for trading. Instead, they are held for medium to long-term strategic purposes. Accordingly, Company has elected to designate these investments in equity instruments as at FVTOCI as recognising short-term fluctuations in these investments’ fair value in profit or loss would not be consistent with the Group’s strategy of holding these investments for long-term purposes and realising their performance potential in the long run. The fair values of the unquoted shares have been estimated using a discounted dividend model. The valuation requires management to make certain assumptions about the model inputs, including growth rates and required rate of return. NOTES TO THE FINANCIAL STATEMENTS 110 KUB MALAYSIA BERHAD