KENANGA ANNUAL REPORT 2020

206 5 1 2 3 4 6 7 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 14. INVESTMENTS IN ASSOCIATES (CONT’D.) (b) Summarised financial information of the material associate is as follows (cont’d.): (iii) Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest in the material associate Wasatah Capital 2020 RM’000 2019 RM’000 Net assets at 1 January 233,293 218,234 Profit before taxation 16,149 1,119 Other comprehensive income 16,225 18,966 Movement of foreign exchange reserve (4,068) (3,333) Audit adjustments: - Loss before taxation - (1,163) - Other comprehensive loss - (12,937) - Retained profits - 12,407 Net assets at 31 December 261,598 233,293 Interest in Wasatah Capital 29.60% 29.60% Share of net assets at 31 December 77,433 69,055 Accumulated Group’s share of tax expense (1,631) (670) Accumulated impairment losses (4,549) (4,549) Carrying value of the Group’s interest in Wasatah 71,253 63,836 Carrying value of other associates 775 806 Total carrying value of Group’s interest in associates 72,028 64,642 (c) Aggregate information of associates that are not individually material 2020 RM’000 2019 RM’000 The Group’s share of results in associates, representing share of total comprehensive loss 50 70