KENANGA ANNUAL REPORT 2020

207 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD 15. INVESTMENT IN A JOINT VENTURE COMPANY Group Bank 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 Unquoted shares At beginning of the financial year 40,000 30,000 40,000 30,000 Add: Subscription of new shares in a joint venture company - 10,000 - 10,000 40,000 40,000 40,000 40,000 Cumulative share of results (15,281) (24,199) - - At the end of financial year 24,719 15,801 40,000 40,000 (a) The summarised income and expenses of the joint venture company are as follows: Group 2020 RM’000 2019 RM’000 Revenue 56,501 6,292 Profit/(Loss) after taxation 17,616 (16,478) (b) The summarised assets and liabilities of the joint venture company are as follows: Group 2020 RM’000 2019 RM’000 Total assets 648,321 182,247 Total liabilities 598,882 150,645 (c) Details of the joint venture company held by the Bank are as follows: Name Percentage (%) of equity held Principal activities 2020 2019 Rakuten Trade Sdn Bhd 50 50 Dealing in securities restricted to listed securities and investment advice