KENANGA ANNUAL REPORT 2017

15. INVESTMENT 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 2017 RM’000 2016 RM’000 Net assets at 1 January 241,778 221,667 (Loss)/Profit for the financial year (23,553) 301 Other comprehensive income 5,172 10,550 Movement of foreign exchange reserve (22,459) 9,260 Net assets at 31 December 200,938 241,778 Interest in associate 29.60% 29.60% Carrying value of Group’s interest in associate 59,478 71,566 (c) Aggregate information of associates that are not individually material 2017 RM’000 2016 RM’000 The Group’s share of results in associates, representing share of total comprehensive loss 56 100 16. INVESTMENT IN A JOINT VENTURE COMPANY Group Bank 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Unquoted shares, at cost At beginning of the financial year 7,500 – 7,500 – Add: Subscription of new shares in a joint venture company 12,500 7,500 12,500 7,500 20,000 7,500 20,000 7,500 Cumulative share of results (6,780) (538) – – At end of the financial year 13,220 6,962 20,000 7,500 Annual Report 2017 31 December 2017 135 notes to the financial statements