Wah Seong Corporation Berhad Annual Report 2020

142 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 10 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 has been adjusted to reflect the equity method of accounting, including fair value adjustments: Petra Energy Berhad Evraz Wasco Pipe Protection Corporation Other individually immaterial associates Total Group RM’000 RM’000 RM’000 RM’000 2020 Summarised financial information As at 31 December Non-current assets 283,384 188,290 Current assets 346,183 81,204 Non-current liabilities (4,425) - Current liabilities (242,680) (38,421) Net assets 382,462 231,073 Financial year ended 31 December Revenue 426,958 152,638 Net profit 14,069 18,101 Other comprehensive expense (449) - Total comprehensive income 13,620 18,101 Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 102,882 113,226 9,187 225,295 Goodwill - - 5,759 5,759 Reclass to other payables - - 79 79 Carrying amount in statement of financial position 102,882 113,226 15,025 231,133 Group’s share of results Financial year ended 31 December Group’s share of profit 3,785 8,869 288 12,942 Group’s share of other comprehensive expense (121) - - (121) Dividend receivable/received 3,462 - - 3,462