UEM EDGENTA BERHAD ANNUAL REPORT 2021 1 2 3 4 5 6 7 245 244 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS FINANCIAL STATEMENTS 16. INVESTMENT IN SUBSIDIARIES (CONTD.) Summarised financial information (contd.) (iii) Summarised statements of cash flows Rimbunan Melati UEMS Group* Total 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Net cash generated from/ (used in) operating activities 89 (399) - 90,760 89 90,361 Net cash generated from/ (used in) investing activities 127 168 - (7,072) 127 (6,904) Net cash used in financing activities - (23) - (23,719) - (23,742) Net increase/(decrease) in cash and cash equivalents 216 (254) - 59,969 216 59,715 Net foreign exchange differences - - - 1,186 - 1,186 Cash and cash equivalents at beginning of the year 11,523 11,777 - 114,862 11,523 126,639 Cash and cash equivalents at end of the year 11,739 11,523 - 176,017 11,739 187,540 * On 30 July 2021, Edgenta (Singapore) Pte. Ltd., a wholly-owned subsidiary of the Company acquired the remaining 2.54% equity interest in UEMS which resulted in UEMS being an indirect wholly-owned subsidiary of the Company. 17. INVESTMENT IN ASSOCIATES Group 2021 RM’000 2020 RM’000 Unquoted shares, at cost In Malaysia 5,730 5,730 Outside Malaysia 6,082 6,082 11,812 11,812 Share of post-acquisition reserves 97,528 81,099 Less: Dividend received (6,418) (7,708) 102,922 85,203 17. INVESTMENT IN ASSOCIATES (CONTD.) Notwithstanding the Group’s effective shareholding of more than 50% in Faber Sindoori Management Services Private Limited (“Faber Sindoori”), the Group does not have the substantive rights and power to direct the relevant activities of Faber Sindoori and the ability to use the power to significantly affects its returns as the key governing structure resides with the board of directors of Faber Sindoori of which majority of the board representative are from Apollo Sindoori Hotels Ltd (“Apollo”) that also has the casting vote in the event of deadlock, as stipulated in the shareholders agreement. Therefore, the Group continues to have significant influence in Faber Sindoori and account for this investment as an associate under MFRS 128: Investments in Associate. On 15 October 2020, Operon Consulting Sdn. Bhd., an indirect 70% subsidiary of the Company, had disposed its entire 49% equity interest in Operon Asset Advisory Sdn. Bhd. for a cash consideration of RM58,199, and accordingly, a gain of disposal of RM58,199 was recognised. Further details of the associates are disclosed in Note 45. Summarised financial information of Faber Sindoori, Biomedix Solutions Sdn. Bhd. (“Biomedix”), One Medicare Sdn. Bhd. (“One Medicare”) and Sedafiat Sdn. Bhd. (“Sedafiat”), that are material associates of the Group are set out below. The summarised financial information represents the amounts in the MFRS financial statements of the associates and not the Group’s share of those amounts. (i) Summarised statements of financial position Faber Sindoori Biomedix One Medicare Sedafiat Total 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Non-current assets 21,139 12,931 1,648 1,941 9,647 10,112 18,213 36,518 50,647 61,502 Current assets 81,354 74,637 79,405 50,661 115,585 81,975 98,842 73,607 375,186 280,880 Total assets 102,493 87,568 81,053 52,602 125,232 92,087 117,055 110,125 425,833 342,382 Non-current liabilities 10,943 8,771 8,015 84 636 636 660 6,057 20,254 15,548 Current liabilities 16,830 15,179 19,445 11,918 88,186 61,332 50,921 48,479 175,382 136,908 Total liabilities 27,773 23,950 27,460 12,002 88,822 61,968 51,581 54,536 195,636 152,456 Net assets 74,720 63,618 53,593 40,600 36,410 30,119 65,474 55,589 230,197 189,926
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