KENANGA ANNUAL REPORT 2020

205 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD 14. INVESTMENTS IN ASSOCIATES (CONT’D.) (b) Summarised financial information of the material associate is as follows: The summarised financial information represents the amounts in the MFRS financial statements of the material associate and not the Group’s share of those amounts. (i) Summarised statement of financial position Wasatah Capital 2020 RM’000 2019 RM’000 Current assets 81,164 80,447 Non-current assets 158,950 127,573 Total assets 240,113 208,020 Current liabilities 13,976 5,520 Non-current liabilities 3,343 3,015 Total liabilities 17,318 8,535 Net assets * 222,795 199,485 * The net assets are net of zakat expenses which are not shared by non-Saudi shareholders in accordance with the regulations of Zakat department of Zakat & Income Tax as applicable in the Kingdom of Saudi Arabia. Therefore, the net assets will not represent the Group’s and the Bank’s share of net assets in Wasatah Capital as disclosed in Note 14(b)(iii) below. The difference will be the total zakat expenses that were fully borne by the Saudi shareholders. (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2020 RM’000 2019 RM’000 Revenue 33,832 14,820 Profit before taxation 16,149 1,119 Tax (expense)/credit (5,534) 1,314 Other comprehensive income 16,225 18,966 Total comprehensive income 26,839 21,399