Yinson Annual Report 2021

266 YINSON HOLDINGS BERHAD SECTION 07 : ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 21. Investment in associates Group Company 2021 2020 2021 2020 RM million RM million RM million RM million Unquoted shares, at cost: - Outside Malaysia 1 - - - - Share of post-acquisition reserves 3 3 - - Share of foreign currency translation reserve (1) (1) - - 2 2 - - 1 Cost of unquoted shares is below RM1 million. Details of associates are as follows: Name of associates Countries of incorporation Proportion (%) of ownership interest Principal activities 2021 2020 Held through Yinson Production AS: Floating Operations & Production West Africa Ltd (a) (in liquidation) Nigeria 40 40 Dormant (a) Audited by an audit firm other than PricewaterhouseCoopers. Floating Operations & Production West Africa Ltd ("FOPWAL") The Group's interest in FOPWAL is accounted for using the equity method in the consolidated financial statements. The financial statements of FOPWAL for the financial year ended 31 December 2020 were used in applying the equity method of accounting as allowed by Paragraph 34 of MFRS 128 Investments in Associates and Joint Ventures. There were no significant transactions or events that occurred between 31 December 2020 and the reporting date and hence no adjustment was made for the current and previous financial years. 22. Other investments Group Company 2021 2020 2021 2020 RM million RM million RM million RM million Financial assets at fair value through profit or loss Investment funds: - In Malaysia 8 8 4 3 - Outside Malaysia 221 180 - - 229 188 4 3 Compulsorily Convertible Debentures: - Outside Malaysia - 14 - - - 14 - -