KENANGA ANNUAL REPORT 2018

NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 184 KENANGA INVESTMENT BANK BERHAD 14. INVESTMENTS IN SUBSIDIARIES (CONT’D.) Details of the subsidiary companies are as follows (cont’d.): Name Principal activities Effective equity interest 2018 2017 % % Local subsidiary companies (cont’d.) The subsidiary company of Kenanga Capital Sdn Bhd is: Kenanga Capital Islamic Sdn Bhd Islamic factoring and leasing 100 100 Overseas subsidiary company Kenanga Singapore Pte. Ltd.* Dealing in securities, advising in corporate finance, securities financing and providing custodial services for securities 100 100 * Audited by affiliate of Messrs. Ernst & Young. 15. INVESTMENTS IN ASSOCIATES Group Bank 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Unquoted shares at cost 88,644 88,644 68,435 68,435 Share of post acquisition losses (22,611) (24,104) - - Share of changes in other comprehensive loss (6,295) (1,788) - - Dividends received (102) (102) - - Foreign exchange differences 18,783 17,398 - - 78,419 80,048 68,435 68,435 Less: Accumulated impairment losses (19,610) (19,610) (12,200) (12,200) 58,809 60,438 56,235 56,235 Represented by: Share of net tangible assets 58,809 60,438