8. INVESTMENTS IN ASSOCIATES AND JOINT OPERATION (a) Investment in an associate Group 31.12.2023 RM’000 30.6.2022 RM’000 At carrying amount Unquoted shares – outside Malaysia – at cost – 83 Share of post-acquisition profits – 17 Share of post-acquisition other comprehensive loss – (4) Less: Impairment loss – (96) – – Details of the associates are as follows: Name of associate Principal place of business/ country of incorporation Principal activities Effective ownership interest 31.12.2023 % 30.6.2022 % 1Trade (Thailand) Co., Ltd.^^^ Thailand Providing technical consultancy, implementation, training, maintenance and technical support services related to eBusiness and the operation of business to business (B2B) eCommerce portal. – 39 ^^^ This associate’s interest is held under Sealnet Sdn. Bhd.. During the financial period, SealNet Sdn. Bhd. disposed of its entire equity interest in the associate for a consideration of RM80,000. The summarised financial information of 1Trade (Thailand) Co., Ltd. has not been presented as the associate is not material to the Group. Integrated Report 2023 243
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