Yinson Annual Report 2020

270 Notes to the financial statements (cont’d) For the financial year ended 31 January 2020 Yinson Holdings Berhad SECTION 7 ACCOUNTABILITY 20. Investment in joint ventures (CONTINUED) Details of joint ventures are as follows: (continued) Name of joint ventures Countries of incorporation Proportion (%) of ownership interest Principal activities 2020 2019 Held through Yinson Ghacacia Ltd: Yinson Gazania Operations Limited (a) Ghana 49 49 Provision of operations and maintenance of floating marine assets to the offshore oil and gas industry Held through Yinson Clover Ltd: PTSC Ca Rong Do Ltd Republic of the Marshall Islands 49 49 Provision of floating marine assets for chartering and service activities incidental to oil and gas extraction (a) Audited by member firms of PricewaterhouseCoopers International Limited, which are separate and independent legal entities from PricewaterhouseCoopers PLT. Summarised financial information of the material joint ventures, based on its MFRS/IFRS financial statements are set out below: (i) PTSC South East Asia Pte. Ltd. 2020 2019 RM’000 RM’000 Summarised statement of financial position: Current assets* 73,707 60,196 Non-current assets 393,362 438,457 Current liabilities (1,024) (1,006) Non-current liabilities (639) (916) Net assets 465,406 496,731 Proportion of the Group’s ownership 49% 49% Carrying amount of the investment 228,049 243,398 * Included in current assets is cash and bank balances of RM56,034,000 (2019: RM40,093,000).