KENANGA ANNUAL REPORT 2017

15. INVESTMENT IN ASSOCIATES (CONT’D.) (a) Details of the associates are as follows: (cont’d.) The Group and the Bank carried out an impairment assessment on the associates in accordance with the accounting policy stated in Note 3.4(h). The recoverable amount is based on the Group’s share of net tangible assets of the associates. Based on management’s assessment, the Group and the Bank have made adequate provision for impairment loss on the investments as at the financial year-end. (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 2017 RM’000 2016 RM’000 Current assets 59,904 73,569 Non-current assets 144,246 171,182 Total assets 204,150 244,751 Current liabilities* 997 2,973 Non-current liabilities 2,215 – Total liabilities 3,212 2,973 Net assets 200,938 241,778 * The current liabilities is net of zakat provision for the financial year as the zakat 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 provision is not included in the net assets for the purpose of showing the Group and the Bank’s share of net assets in Wasatah Capital. (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2017 RM’000 2016 RM’000 Revenue 16,407 18,019 (Loss)/Profit for the financial year (23,553) 301 Other comprehensive income 5,172 10,550 Total comprehensive (loss)/income (18,381) 10,851 Kenanga Investment Bank Berhad 31 December 2017 134 notes to the financial statements