PRG Holdings Berhad Annual Report 2019

PRG HOLDINGS BERHAD 130 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 11. INVESTMENTS IN ASSOCIATES (continued) The details of the associates are as follows: Interest in equity held by subsidiaries Name of company Country of incorporation 2019 2018 Principal activities % % Furnitech Components (Vietnam) Co., Ltd. (“Furnitech”)* Vietnam 45.06 45.06 Manufacture and sale of metal components for furniture Premier Mirach Sdn. Bhd. Malaysia 25 25 Construction related activities Premier Aspirasi Development Sdn. Bhd.** Malaysia 49 49 Property development and related activities Esther Postpartum Care Sdn. Bhd. (“EPC”)** Malaysia 26.21 26.21 Confinement services Skilltrain Co., Ltd. (“Skilltrain”)** # Thailand 49 - Retail sale of clothing, footwear and ancillary products * Audited by a member firm of BDO International. ** Associates are equity accounted based on management accounts for the financial period ended 31 December 2019. # On 11 April 2019, a subsidiary of the Company, PP Retail Pte. Ltd. acquired 64,190 ordinary shares representing 49% equity interest in Skilltrain, a limited liability company incorporated in Thailand for a consideration of THB6,419,000 (equivalent to RM842,000). The summarised financial information of the associates are as follows: Furnitech EPC Skilltrain Other immaterial associates Total 2019 RM’000 RM’000 RM’000 RM’000 RM’000 Assets and liabilities Non-current assets 5,222 3,629 1,991 1,078 11,920 Current assets 4,036 (467) 3,215 600 7,384 Non-current liabilities - - - (43) (43) Current liabilities (8,515) (3,291) (5,247) (4,687) (21,740) Net assets/(liabilities) 743 (129) (41) (3,052) (2,479) Carrying amount of the investments in associates (including goodwill) - 1,934 - - 1,934