264 WASCO BERHAD SECTION 6 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 9 INVESTMENT IN ASSOCIATES (CONTINUED) Details of associates are as follows: Group’s effective interest Country of incorporation 2025 % 2024 % Principal activities Petra Energy Berhad Malaysia 27 27 Investment holding Interpro Wasco Pipe Protection Corporation (formerly known as Evraz Wasco Pipe Protection Corporation) Canada 49 49 Provision of pipe coating services Syarikat Beka Sdn. Bhd. Malaysia 48 48 Investment holding Wah Seong Boustead Company Limited Myanmar 50 50 Property development, trading and provision of auxiliary services 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: Group Petra Energy Berhad RM’000 Interpro Wasco Pipe Protection Corporation RM’000 2025 Summarised financial information As at 31 December Non-current assets 632,508 15,268 Current assets 235,183 14,542 Non-current liabilities (205,776) (1,672) Current liabilities (320,759) (42,218) Net assets/(liabilities) 341,156 (14,080) Financial year ended 31 December Revenue 282,331 - Net loss (87,889) (17,774) Total comprehensive expense (87,889) (35,749)
RkJQdWJsaXNoZXIy NDgzMzc=