Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 10 INVESTMENT IN ASSOCIATES (CONTINUED) 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 Evraz Wasco Pipe Protection Corporation Other individually immaterial associates Total 2023 RM’000 RM’000 RM’000 RM’000 Summarised financial information As at 31 December Non-current assets 274,722 46,304 Current assets 399,252 171,917 Non-current liabilities (5,397) - Current liabilities (250,161) (101,067) Net assets 418,416 117,154 Financial year ended 31 December Revenue 553,315 - Net profit 60,325 - Total comprehensive income 60,325 - Reconciliation of net assets to carrying amount As at 31 December Group’s share of net assets 112,554 57,405 121 170,080 Goodwill - - 67 67 Less: Accumulated impairment loss - (57,405) - (57,405) Carrying amount in statement of financial position 112,554 - 188 112,742 Group’s share of results Financial year ended 31 December Group’s share of profit 16,227 -* 80 16,307 Dividend receivable/received 5,193 - 190 5,383 * During the current financial year, the Group no longer share the profit of its investment in EWPPC as the carrying amount of the investment in EWPPC was reduced to nil. 223 Wasco Berhad
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