KENANGA ANNUAL REPORT 2018

NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 186 KENANGA INVESTMENT BANK BERHAD 15. INVESTMENTS IN ASSOCIATES (CONT’D.) (b) Summarised financial information of the material associate is as follows (cont’d.): (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2018 2017 RM’000 RM’000 Revenue 24,644 16,407 Profit/(loss) before taxation 9,044 (23,553) Tax expense (1,872) - Other comprehensive (loss)/income (15,223) 5,172 Total comprehensive loss (8,051) (18,381) (iii) Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest in the material associate Wasatah Capital 2018 2017 RM’000 RM’000 Net assets at 1 January 200,938 241,778 Profit/(loss) for the financial year 9,044 (23,553) Other comprehensive (loss)/income (15,223) 5,172 Movement of foreign exchange reserve 4,679 (22,459) Impact of adopting new accounting standard 2,602 - Net assets at 31 December 202,040 200,938 Interest in Wasatah Capital 29.60% 29.60% Share of net assets at 31 December 59,937 59,478 The Bank’s share of tax expense (1,872) - Carrying value of the Group’s interest in associate 58,065 59,478 (c) Aggregate information of associates that are not individually material 2018 2017 RM’000 RM’000 The Group’s share of results in associates, representing share of total comprehensive loss 83 56