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 142 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 (continued): 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 2016 Summarised financial information As at 31 December Non-current assets 203,089 86,193 57,645 44,726 Current assets 25,589 94,788 12,767 1,937 Cash and cash equivalents 5,105 1,396 27,563 20,539 Non-current liabilities - (95,008) (6,877) (33,015) Current liabilities (10,978) (79,779) (19,803) (17,621) Financial year ended 31 December Net profit/(loss) 5,805 502 5,772 (2,365) Other comprehensive (expense)/income (27) (25) 3,221 (796) Total comprehensive income/(expense) 5,778 477 8,993 (3,161) Included in the total comprehensive income/ (expense) are: Revenue 30,806 135,817 28,943 - Interest income - - 7 - Depreciation and amortisation (12,477) (4) (7,120) (96) Interest expense (1,042) (2,669) - (1,339) Tax expense - - (2,197) 1,314