Wah Seong Corporation Berhad Annual Report 2019

139 ANNUAL REPORT 2019 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 10 INVESTMENT IN SUBSIDIARIES (CONTINUED) Non-controlling interests in subsidiaries (continued) The Group’s subsidiaries that have material non-controlling interests (“NCI”) are as follows (continued): Mackenzie Industries Sdn. Bhd. Wasco Coatings Malaysia Sdn. Bhd. Petro- Pipe (Sabah) Sdn. Bhd. Other individually immaterial subsidiaries Total Group RM’000 RM’000 RM’000 RM’000 RM’000 2018 NCI percentage of ownership interest and voting interest 40% 30% 40% Carrying amount of NCI 11,141 72,375 (4,110) 1,712 81,118 Net profit/(loss) allocated to NCI 1,208 (7,500) (2,112) 3,469 (4,935) Summarised financial information before intra-group elimination As at 31 December Non-current assets 5,043 31,635 78,042 Current assets 94,316 262,065 14,481 Current liabilities (71,507) (52,450) (102,798) Net assets/(liabilities) 27,852 241,250 (10,275) Financial year ended 31 December Revenue 109,412 94,275 41,285 Net profit/(loss) 3,019 (24,999) (5,280) Cash flows (used in)/generated from operating activities (18,578) 113,680 24,829 Cash flows generated from/(used in) investing activities 8,096 (95,664) (1,001) Cash flows (used in)/generated from financing activities (3,668) (37,148) (24,445) Net change in cash and cash equivalents (14,150) (19,132) (617) Dividends paid/payable to NCI - 10,200 -