PRG Holdings Berhad Annual Report 2020

Annual Report 2020 131 12. INVESTMENTS IN ASSOCIATES (continued) The reconciliation of net assets of the associates to the carrying amount of the investments in associates are as follows: Other PP immaterial Furnitech EPC Thailand associates Total 2020 RM’000 RM’000 RM’000 RM’000 RM’000 Share of net (liabilities)/assets - (33) - 118 85 Goodwill 3,244 3,353 - - 6,597 Less: Impairment loss (3,244) (1,426) - (118) (4,788) Carrying amount in the statements of financial position - 1,894 - - 1,894 2019 Share of net assets/(liabilities) 334 (33) - 118 419 Goodwill 3,244 3,353 - - 6,597 Less: Impairment loss (3,244) (1,386) - (118) (4,748) Less: Reclassification to disposal group classified as held for sale (334) - - - (334) Carrying amount in the statements of financial position - 1,934 - - 1,934 Movements in the impairment allowance for investments in associates are as follows: Group 2020 2019 RM’000 RM’000 At 1 January 4,748 118 Charge for the financial year 40 4,630 At 31 December 4,788 4,748 During the financial year, the impairment losses on investments in associates of RM40,000 (2019: RM4,630,000) have been recognised due to declining business operations. Notes to the Financial Statements 31 December 2020 cont’d