Tropicana Corporation Berhad Annual Report 2019

19. INVESTMENT IN AN ASSOCIATE Group 2019 2018 RM’000 RM’000 Unquoted shares, at costs 115,102 100,102 Amount due from an associate 37,177 15,000 Share of post-acquisition results and reserves (1,940) (2,759) Unrealised profit arising from sale of land to associate (59,774) (59,774) 90,565 52,569 The amount due from an associate represents outstanding amount arising from the Group’s proportionate share in the advances and working capital to the associate. The amount due from an associate is unsecured, non-interest bearing and is not repayable within the next twelve (12) months. The Group views these advances as part of the Group’s investment in the associate. Details of the associate are as follows: Country of Principal Equity interest held (%) Name of associate incorporation activity 2019 2018 Agile Tropicana Development Sdn Bhd Malaysia Property development 30 30 The associate has been accounted for using the equity method of accounting. The summarised financial information of the associate is as follows: Group 2019 2018 RM’000 RM’000 Non-current assets 7,463 6,472 Current assets 649,263 621,384 Non-current liabilities (259,884) (286,472) Current liabilities (19,637) (16,908) Net assets 377,205 324,476 Revenue 74,825 5 Profit before tax 2,730 1,820 Profit after tax, representing total comprehensive income 2,730 1,820 Group’s share of results 819 546 The associate had no contingent liabilities or capital commitments as at 31 December 2019 or 31 December 2018. pg 197 Tropicana Corporation Berhad Annual Report 2019 Sustainability at Tropicana What We’ve Governed Financial Statements & Other Information