213 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey 8 INVESTMENT IN SUBSIDIARIES (CONTINUED) Recognition and measurement (continued) Non-controlling interests represent that portion of the profit or loss, other comprehensive income and net assets of a subsidiary attributable to equity interests that are not owned, directly or indirectly through subsidiaries, by the Company. It is measured at the non-controlling’s share of the fair value of the subsidiaries’ identifiable assets and liabilities at the date of acquisition and the non-controlling’s share of changes in the subsidiaries’ equity since that date. Impairment assessment For the financial year ended 31 December 2024, due to the uncertainty of the future economic condition, the investment in certain subsidiaries of the Company was not expected to be recovered. The Group reviewed the recoverable amount of its investment by assessing the individual subsidiary, each of which is a single CGU by itself. The recoverable amount was RM717,000 (2023: RM771,000) which is determined based on the net assets approach. The investment in certain subsidiaries are reduced to its recoverable amount. As a result, an impairment loss of RM35,054,000 (2023: RM3,789,000) was recognised in the profit and loss. The movements in the allowance for impairment losses of investment in subsidiaries during the financial year are as follows: Company 2024 RM’000 2023 RM’000 At 1 January 190,095 186,306 Impairment loss recognised 35,054 3,789 At 31 December 225,149 190,095
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