Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 136 8 INVESTMENT IN ASSOCIATES (CONTINUED) The following table summarises the information of the Group’s material associates and reconciles the information to the carrying amount of the Group’s interest in the associates. The information have been adjusted to reflect the equity method of accounting, including fair value adjustments (continued): Group Petra Energy Berhad RM’000 Atama Resources Inc. RM’000 Evraz Wasco Pipe Protection Corporation RM’000 Other individually immaterial associates RM’000 Total RM’000 2016 Summarised financial information As at 31 December Non-current assets 445,893 184,110 164,593 Current assets 375,770 8,414 27,425 Non-current liabilities (91,515) (8) - Current liabilities (321,280) (16,405) (38,695) Net assets 408,868 176,111 153,323 Financial year ended 31 December Revenue 333,241 - 12,160 Net loss (128,550) (27,152) (12,282) Other comprehensive income/(expense) 1,703 (1,015) - Total comprehensive expense (126,847) (28,167) (12,282) Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 109,985 86,224 75,128 265 271,602 Goodwill - - - 68 68 Less: Accumulated impairment loss - (56,487) - - (56,487) Carrying amount in statement of financial position 109,985 29,737 75,128 333 215,183 Group’s share of results Financial year ended 31 December Group’s share of (loss)/profit (34,580) (13,294) (6,018) 37 (53,855) Dividend receivable/received 3,462 - - - 3,462