KENANGA ANNUAL REPORT 2018

NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 187 ANNUAL REPORT 2018 16. INVESTMENT IN A JOINT VENTURE COMPANY Group Bank 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Unquoted shares At beginning of the financial year 20,000 7,500 20,000 7,500 Add: Subscription of new shares in a joint venture company 10,000 12,500 10,000 12,500 30,000 20,000 30,000 20,000 Cumulative share of results (15,923) (6,780) - - At the end of financial year 14,077 13,220 30,000 20,000 (a) The summarised income and expenses of the joint venture company are as follows: Group 2018 2017 RM’000 RM’000 Revenue 5,841 899 Loss after taxation (18,286) (12,484) (b) The summarised assets and liabilities of the joint venture company are as follows: Group 2018 2017 RM’000 RM’000 Total assets 345,287 87,054 Total liabilities 317,135 60,616 (c) Details of the joint venture company held by the Bank are as follows: Percentage (%) of equity held Name 2018 2017 Principal activities Rakuten Trade Sdn Bhd 50 50 Dealing in securities restricted to listed securities and investment advice