Section 8 UEM Edgenta Berhad FINANCIAL STATEMENTS 328 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 20. INVESTMENT IN A JOINT VENTURE Group 2023 RM’000 2022 RM’000 Unquoted shares, at cost In Malaysia 122 122 Share of post-acquisition reserves (5) (6) 117 116 In the previous financial year, Opus Consultants (Sarawak) Sdn. Bhd. (“OCS”), an indirect wholly-owned subsidiary of the Company via Opus International (M) Berhad (“OIMB”) has issued 175,000 new ordinary shares. Pursuant to the Shareholders’ Agreement between OIMB and PPES Consults Sdn. Bhd. (“PPES”), 47,500 and 127,500 new ordinary shares were allotted to OIMB and PPES, respectively. As a result, OIMB’s equity interest in OCS was diluted to 49% and OCS became a joint-venture (“JV”) company to OIMB. Summarised financial information of OCS has not been disclosed as they are immaterial. 21. OTHER INVESTMENTS Group and Company 2023 RM’000 2022 RM’000 Equity instruments (unquoted shares in Malaysia) 1,200 1,200 Fair value adjustments (1,200) (1,200) Unquoted shares, net - - Club memberships 232 232 232 232
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