YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 262 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 20. INVESTMENT IN JOINT VENTURES (CONTINUED) Summarised financial information of the material joint ventures, based on its MFRS/IFRS financial statements is set out below: (continued) (iii) Shift Clean Solutions Ltd. (continued) 2024 RM million 2023 RM million Summarised statement of comprehensive income: Revenue 4 1 Cost of sales (14) 1 Administrative expenses* (36) (39) Loss before tax (46) (37) Income tax expense - - Loss for the financial year (46) (37) Other comprehensive income/(loss) 17 (10) Total comprehensive loss (29) (47) Group’s share of loss for the financial year# (14) (7) Group’s share of other comprehensive income/(loss) 7 (2) Group’s share of total comprehensive loss (7) (9) * Included in administrative expense is depreciation of RM7 million (2023: RM7 million). # Group’s share of loss for the financial year ended 31 January 2024 included the effect of the changes in shareholding during the current financial year (Note 21(iv)) and included in RM14 million was RM11 million when it was an associate. (iv) Investment in other joint ventures The summarised financial information of investment in other joint ventures is not presented as these investments are individually immaterial to the Group. 21. INVESTMENT IN ASSOCIATES Group 2024 RM million 2023 RM million Unquoted shares, at cost: - Within Malaysia 3 2 - Outside Malaysia 77 134 Share of post-acquisition reserves (17) (15) Share of foreign currency translation reserve 13 (2) Accumulated impairment loss (14) (8) Share of net assets of associates 62 111
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