251 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 ACCOUNTABILITY (FINANCIAL STATEMENTS) 20. Investment in joint ventures (continued) The Group’s equity interest, principal activities and countries of incorporation of its joint ventures are disclosed in Note 48. Summarised financial information of the material joint ventures, based on its MFRS/IFRS financial statements is set out below: (i) PTSC South East Asia Pte. Ltd. Summarised statement of financial position: 2023 RM million 2022 RM million Current assets * 71 74 Non-current assets 269 312 Current liabilities 1 (1) Net assets 341 385 Proportion of the Group’s ownership 49% 49% Carrying amount of the investment 167 189 * Included in current assets are cash and bank balances of RM65 million (2022: RM66 million). Summarised statement of comprehensive income: 2023 RM million 2022 RM million Revenue 33 33 Cost of sales * (48) (45) Loss before tax (15) (12) Income tax expense (2) (2) Loss for the financial year (17) (14) Other comprehensive income 6 16 Total comprehensive (loss)/income (11) 2 Group’s share of loss for the financial year (8) (7) Group’s share of other comprehensive income 3 8 Group’s share of total comprehensive (loss)/income (5) 1 Dividend received from joint venture 17 16 * Included in cost of sales is depreciation of RM48 million (2022: RM45 million).
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