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 140 9 INVESTMENT IN JOINT VENTURES (CONTINUED) The following table summarises the information of the Group’s material joint ventures and reconciles the information to the carrying amount of the Group’s interest in the joint ventures. The information have been adjusted to reflect the equity method of accounting, including fair value adjustments: Group Alam-PE Holdings (L) Inc. RM’000 Bayou Wasco Insulation, LLC RM’000 Boustead Wah Seong Sdn. Bhd. RM’000 Welspun Wasco Coatings Private Limited RM’000 Other individually immaterial joint ventures RM’000 Total RM’000 2017 Summarised financial information As at 31 December Non-current assets 187,077 79,847 46,226 39,207 Current assets 34,682 14,094 8,106 3,165 Cash and cash equivalents 1,081 4,021 40,388 24,696 Non-current liabilities - (64,731) (5,232) (43,191) Current liabilities (13,808) (8,112) (19,444) (14,304) Financial year ended 31 December Net profit/(loss) 1,085 19,315 6,004 (6,659) Other comprehensive expense - - (7,254) - Total comprehensive income/(expense) 1,085 19,315 (1,250) (6,659) Included in the total comprehensive income/ (expense) are: Revenue 41,868 216,157 26,611 86,509 Interest income - - 83 - Depreciation and amortisation (11,554) - (7,397) (2,620) Interest expense - (2,637) - (3,320) Tax expense (102) - (1,673) (1,406)