237 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 10 INVESTMENT IN JOINT VENTURES (CONTINUED) The following table summarises the information of the Group’s material joint ventures and reconciles the information to the carrying amount of the Group’s interest in the joint ventures. The information has been adjusted to reflect the equity method of accounting, including fair value adjustments: Group Alam-PE Holdings (L) Inc. RM’000 Bayou Wasco Insulation, LLC RM’000 Boustead Wah Seong Sdn. Bhd. RM’000 2024 Summarised financial information As at 31 December Non-current assets 16,302 51,515 - Current assets 5,331 164,292 2,892 Cash and cash equivalents 7,516 8,387 23,435 Non-current liabilities - (70,791) - Current liabilities (5,505) (139,642) (11,943) Non-controlling interest - - (12,966) Net assets 23,644 13,761 1,418 Financial year ended 31 December Net profit 3,381 12,915 312 Other comprehensive income/(loss) - 1,328 (378) Total comprehensive income/(expense) 3,381 14,243 (66) Included in the total comprehensive income/(expense) are: Revenue 18,805 90,639 - Interest income 27 - - Depreciation and amortisation (713) - - Interest expense - (1,136) (1) Tax expense (712) - 33
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