8. INVESTMENTS IN ASSOCIATES AND JOINT OPERATION (CONTINUED) (b) Investment in joint operation Anasuria Operating Company Limited (“AOCL”) The Group, via its indirect owned subsidiary, Ping Petroleum UK PLC (“PPUK”) together with Anasuria Hibiscus UK Limited (“AHUK”), established the joint operating company, AOCL as the operator of the Anasuria Cluster assets. AOCL has been approved as the License Operator for the assets by the Secretary of State for Energy and Climate Change of the United Kingdom Government. At the end of the reporting period, the Group holds a 50% interest in AOCL. The principal place of business of the joint operations is in Aberdeen, United Kingdom. The Anasuria Cluster is located approximately 175 kilometers east of Aberdeen in the UK Central North Sea and consists of: (i) 100% interest in the Guillemot A field and the related field facilities; (ii) 100% interest in the Teal field and the related field facilities; (iii) 100% interest in the Teal South field and the related field facilities; (iv) 38.65% interest in the Cook field and the related field facilities; and (v) 100% ownership in the common infrastructure known as the Anasuria Floating Production, Storage and Offloading unit (“FPSO”) and the related equipment. 9. OTHER INVESTMENTS Group Company 31.12.2023 RM’000 30.6.2022 RM’000 31.12.2023 RM’000 30.6.2022 RM’000 Financial assets, at fair value 7,655 7,655 4,117 4,117 Foreign exchange translation 162 162 – – Less: Impairment loss (7,817) (7,817) (4,117) (4,117) – – – – Financial Statements DAGANG NeXCHANGE BERHAD 244 NOTES TO THE FINANCIAL STATEMENTS
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