Wah Seong Corporation Berhad Annual Report 2020

139 ANNUAL REPORT 2020 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 9 INVESTMENT IN SUBSIDIARIES (CONTINUED) Non-controlling interests in subsidiaries (continued) The Group’s subsidiaries that have material non-controlling interests (“NCI”) are as follows (continued): Group Mackenzie Industries Sdn. Bhd. Wasco Coatings Malaysia Sdn. Bhd. Petro- Pipe (Sabah) Sdn. Bhd. Other individually immaterial subsidiaries Total RM’000 RM’000 RM’000 RM’000 RM’000 2019 NCI percentage of ownership interest and voting interest 40% 30% 30% Carrying amount of NCI 7,779 53,399 (5,394) 5,468 61,252 Net (loss)/profit allocated to NCI (2,882) (8,776) (1,284) 2,373 (10,569) Summarised financial information before intra-group elimination As at 31 December Non-current assets 6,229 213,418 75,810 Current assets 78,127 230,930 92,371 Non-current liabilities - (178,745) - Current liabilities (64,909) (87,606) (155,742) Net assets 19,447 177,997 12,439 Financial year ended 31 December Revenue 109,814 5,553 84,167 Net (loss)/profit (7,204) (29,253) 2,714 Cash flows used in operating activities (3,266) (28,036) (56,463) Cash flows generated from/(used in) investing activities 8,671 25,202 (677) Cash flows (used in)/generated from financing activities (3,197) 3,178 65,666 Net change in cash and cash equivalents 2,208 344 8,526 Dividends paid/payable to NCI 480 10,200 -