Wah Seong Corporation Berhad Annual Report 2020

149 ANNUAL REPORT 2020 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 11 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 has been adjusted to reflect the equity method of accounting, including fair value adjustments (continued): Alam-PE Holdings (L) Inc. Bayou Wasco Insulation, LLC Boustead Wah Seong Sdn. Bhd. Welspun Wasco Coatings Private Limited Other individually immaterial joint ventures Total Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2019 (continued) Group’s share of results Financial year ended 31 December Group’s share of loss (22,861) (3,755) (702) (3,142) (467) (30,927) Group’s share of other comprehensive (expense)/income - (203) (220) (489) 58 (854) Group’s share of total comprehensive expense (22,861) (3,958) (922) (3,631) (409) (31,781) Dividend receivable/received - - - - 21 21 12 FINANCE LEASE RECEIVABLES Group 2020 2019 RM’000 RM’000 Minimum lease receivables: Not later than 1 year 5,472 12,942 Later than 1 year and not later than 2 years - 5,550 5,472 18,492 Less: Future finance income (75) (666) Present value of finance lease assets 5,397 17,826 Present value of finance lease receivables: Not later than 1 year 5,397 12,352 Later than 1 year and not later than 2 years - 5,474 Present value of finance lease assets 5,397 17,826 The effective interest rate of the Group’s finance lease receivables is 5.08% (2019: 5.08%).