Wah Seong Corporation Berhad Annual Report 2021 159 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 11 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 (continued): Group Alam-PE Holdings (L) Inc. Bayou Wasco Insulation, LLC Boustead Wah Seong Sdn. Bhd. Welspun Wasco Coatings Private Limited Other individually immaterial joint ventures Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2020 (continued) Group’s share of results Financial year ended 31 December Group’s share of (loss)/profit (15,497) (6,385) (751) (5,676) 1,836 (26,473) Group’s share of other comprehensive income - - 174 273 - 447 Dividend receivable/received - - 6,692 - - 6,692 12 FINANCE LEASE RECEIVABLES Group 2021 2020 RM’000 RM’000 Minimum lease receivables: Not later than 1 year - 5,472 Later than 1 year and not later than 2 years - - - 5,472 Less: Future finance income - (75) Present value of finance lease assets - 5,397 Present value of finance lease receivables: Not later than 1 year - 5,397 Later than 1 year and not later than 2 years - - Present value of finance lease assets - 5,397
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