NOTES TO THE FINANCIAL STATEMENTS Cont’d 7. Investments in subsidiaries cont’d 7.1 Non-controlling interests in subsidiaries cont’d 2021 Press Metal Sarawak Sdn. Bhd. Press Metal Bintulu Sdn. Bhd. Press Metal International Limited Other subsidiaries with immaterial NCI Total RM’000 RM’000 RM’000 RM’000 RM’000 NCI percentage of ownership interest and voting interest 20.0% 20.0% 7.6% Carrying amount of NCI 237,374 763,948 40,724 5,249 1,047,295 Profit/(Loss) allocated to NCI 30,208 263,240 (3,394) 3,225 293,279 Summarised financial information before intra-group elimination As at 31 December Non-current assets 694,862 6,491,018 492,906 Current assets 947,029 3,482,993 639,180 Non-current liabilities (102,313) (3,002,103) (49,629) Current liabilities (352,706) (3,152,166) (548,026) Net assets 1,186,872 3,819,742 534,431 Year ended 31 December Revenue 1,308,924 7,958,066 1,037,433 Profit for the year 151,041 1,316,201 (44,539) Total comprehensive income 124,694 780,018 - Cash flows from operating activities (39,578) 1,023,792 (207,378) Cash flows from investing activities (16,512) (982,870) 361 Cash flows from financing activities 30,564 (42,417) 141,013 Net decrease in cash and cash equivalents (25,526) (1,495) (66,004) Dividends paid to NCI 7,000 50,400 - 7.2 Transactions with non-controlling interests In April 2014, the Group disposed 20% of its equity interest in PMBTU to the existing non-controlling interests holder (“NCI”) for a cash consideration of RM522,699,000. A gain on partial disposal amounting to RM405,962,000 was recognised in equity as the change in ownership interest did not result in a loss of control to the Group. PRESS METAL ALUMINIUM HOLDINGS BERHAD 247
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