233 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 2023 Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 112,554 57,405 121 170,080 Goodwill - - 67 67 Less: Accumulated impairment loss - (57,405) - (57,405) Carrying amount in statement of financial position 112,554 - 188 112,742 Group’s share of results Financial year ended 31 December Group’s share of profit 16,227 -* 80 16,307 Dividend receivable/received 5,193 - 190 5,383 * 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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