19. INVESTMENT IN AN ASSOCIATE Group 2022 2021 RM’000 RM’000 Unquoted shares, at costs 151,552 151,552 Share of post-acquisition results and reserves 525 11,976 Unrealised profit arising from sale of land to associate (42,034) (49,057) 110,043 114,471 Details of the associate are as follows: Equity Country of interest Name of associate incorporation Principal activity held (%) 2022 2021 Agile Tropicana Development Sdn Bhd Malaysia Property development 30 30 (“ATROP”) The associate has been accounted for using the equity method of accounting. The summarised financial information of the associate is as follows: Group 2022 2021 RM’000 RM’000 Non-current assets 3,159 3,982 Current assets 848,154 952,602 Non-current liabilities (262,334) (296,212) Current liabilities (82,055) (115,278) Net assets 506,924 545,094 Revenue 241,509 213,409 (Loss)/profit before tax (34,224) 37,214 (Loss)/profit after tax, representing total comprehensive (loss)/income (38,170) 29,599 Group’s share of results (11,451) 7,870 Reversal of unrealised profits 7,023 10,717 Adjusted Group’s share of results (4,428) 18,587 The associate had no contingent liabilities or capital commitments as at 31 December 2022 or 31 December 2021. 235 FINANCIAL STATEMENTS & OTHER INFORMATION
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