Yinson Annual Report 2019

171 Yinson Group Overview Strategy and Sustainability Governance Accountability Annual General Meeting 20. INVESTMENT IN JOINT VENTURES (CONTINUED) Summarised financial information of the joint ventures, based on its MFRS/IFRS financial statements are set out below: (i) PTSC South East Asia Pte. Ltd. 2019 2018 RM’000 RM’000 Summarised statement of financial position: Current assets* 60,196 86,774 Non-current assets 438,457 459,646 Current liabilities** (1,006) (27,585) Non-current liabilities** (916) – Net assets 496,731 518,835 Proportion of the Group’s ownership 49% 49% Carrying amount of the investment 243,398 254,229 * Included in current assets is cash and bank balances of RM40,093,000 (2018: RM73,640,000). ** Included in current and non-current liabilities in the previous financial year was borrowings of RM25,584,000 which were secured by property, plant and equipment of the Company and borne interest at LIBOR + 2.5% per annum. The loan was fully repaid on 15 February 2018. 2019 2018 RM’000 RM’000 Summarised statement of comprehensive income: Revenue 60,473 94,154 Cost of sales (44,211) (27,326) Other income 654 268 Administrative expenses (215) (1,247) Finance costs (637) (4,160) Profit before tax 16,064 61,689 Income tax expense (3,077) (3,115) Profit for the financial year 12,987 58,574 Other comprehensive income/(loss) 26,339 (71,580) Total comprehensive income/(loss) 39,326 (13,006) Group’s share of profit for the financial year 6,364 28,701 Group’s share of other comprehensive income/(loss) 12,906 (35,074) Group’s share of total comprehensive income/(loss) 19,270 (6,373) Dividend received from joint venture 30,101 20,046