Wah Seong Corporation Berhad Annual Report 2020

138 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 9 INVESTMENT IN SUBSIDIARIES (CONTINUED) Non-controlling interests in subsidiaries The Group’s subsidiaries that have material non-controlling interests (“NCI”) are as follows: Mackenzie Industries Sdn. Bhd. Wasco Coatings Malaysia Sdn. Bhd. Petro- Pipe (Sabah) Sdn. Bhd. Other individually immaterial subsidiaries Total Group RM’000 RM’000 RM’000 RM’000 RM’000 2020 NCI percentage of ownership interest and voting interest 40% 30% 30% Carrying amount of NCI 7,281 41,776 (4,361) 5,142 49,838 Net (loss)/profit allocated to NCI (498) (11,692) 1,034 (397) (11,553) Summarised financial information before intra-group elimination As at 31 December Non-current assets 6,293 192,117 64,414 Current assets 65,950 165,682 65,751 Non-current liabilities - (174,762) - Current liabilities (54,040) (43,785) (113,178) Net assets 18,203 139,252 16,987 Financial year ended 31 December Revenue 87,497 22,452 108,071 Net (loss)/profit (1,244) (38,973) 4,549 Cash flows generated from/(used in) operating activities 7,138 3,284 53,569 Cash flows (used in)/generated from investing activities (420) 4,359 (1,146) Cash flows used in financing activities (7,680) (3,565) (46,150) Net change in cash and cash equivalents (962) 4,078 6,273 Dividends paid/payable to NCI - - -