231 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 9 INVESTMENT IN ASSOCIATES (CONTINUED) The following table summarises the information of the Group’s material associates and reconciles the information to the carrying amount of the Group’s interest in the associates. The information has been adjusted to reflect the equity method of accounting, including fair value adjustments (continued): Group Petra Energy Berhad RM’000 Evraz Wasco Pipe Protection Corporation RM’000 Other individually immaterial associates RM’000 Total RM’000 2024 Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 122,328 55,836 181 178,345 Goodwill - - 67 67 Less: Accumulated impairment loss - (55,836) - (55,836) Carrying amount in statement of financial position 122,328 - 248 122,576 Group’s share of results Financial year ended 31 December Group’s share of profit 19,295 -* 60 19,355 Dividend receivable/received 9,520 - - 9,520 * The Group no longer share the profit of its investment in EWPPC as the carrying amount of the investment in EWPPC was reduced to nil.
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