Wah Seong Corporation Berhad Annual Report 2020

143 ANNUAL REPORT 2020 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 (continued): Petra Energy Berhad Evraz Wasco Pipe Protection Corporation Other individually immaterial associates Total Group RM’000 RM’000 RM’000 RM’000 2019 Summarised financial information As at 31 December Non-current assets 283,384 203,124 Current assets 345,434 46,736 Non-current liabilities (4,425) - Current liabilities (242,680) (35,726) Net assets 381,713 214,134 Financial year ended 31 December Revenue 584,276 79,954 Net profit 68,271 17,838 Other comprehensive expense (632) - Total comprehensive income 67,639 17,838 Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 102,681 104,926 152 207,759 Goodwill - - 68 68 Carrying amount in statement of financial position 102,681 104,926 220 207,827 Group’s share of results Financial year ended 31 December Group’s share of profit 18,365 8,741 50 27,156 Group’s share of other comprehensive expense (170) - - (170) Dividend receivable/received 3,462 - - 3,462