ENRA Group Berhad Annual Report 2021

FINANCIAL STATEMENTS & OTHERS Annual Report 2021 | ENRA Group Berhad 129 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2021 7. INVESTMENTS IN SUBSIDIARIES (cont’d) (f) The subsidiaries of the Group that have material non-controlling interests (“NCI”) are as follows (Cont’d): The summarised financial information before intra-group elimination are as follows (Cont’d): ENRA Abode SPM Fitzrovia Senior Q Homes Sdn. Bhd. Developments ENRA IOL Living Ltd. Sdn. Bhd. Group Limited Sdn. Bhd. Group Group RM’000 RM’000 RM’000 RM’000 RM’000 2020 Assets and liabilities Non-current assets 74,217 – 299 – 16 Current assets 14,136 3,025 2,145 28,003 13,244 Non-current liabilities (28,005) – – – – Current liabilities (47,664) (2,522) (1,188) (28,297) (13,206) Net assets 12,684 503 1,256 (294) 54 Results Revenue 50,057 48,427 1,768 – – Profit/(Loss) for the financial year 5,778 (1,468) 82 111 83 Total comprehensive income/(loss) 5,778 (1,391) 82 115 83 Cash flows from/(used in) operating activities 33,810 46,578 (1,820) (1,274) (7,329) Cash flows (used in)/from investing activities (10,101) – 872 – (20) Cash flows (used in)/from financing activities (24,787) (45,354) 1,176 1,334 3,862 Net (decrease)/increase in cash and cash equivalents (1,078) 1,224 228 60 (3,487) (g) During the financial year, the Company recognised an impairment loss on investment in subsidiaries of RM11,701,000 (2020: RM Nil) due to decline in operations of certain subsidiaries as a result of the COVID-19 pandemic. Adverse adjustments were made to the forecasted operating cash flows included in the value-in-use calculations. The recoverable amounts were determined using pre-tax discount rates of 10.0% (2020: 12.0%).