KENANGA ANNUAL REPORT 2019

197 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 14. INVESTMENTS IN ASSOCIATES (CONT’D.) (b) Summarised financial information of the material associate is as follows (cont’d.): (i) Summarised statement of financial position Wasatah Capital 2019 RM’000 2018 RM’000 Current assets 80,447 76,748 Non-current assets 127,573 119,217 Total assets 208,020 195,965 Current liabilities* 5,520 10,000 Non-current liabilities 3,015 2,706 Total liabilities 8,535 12,706 Net assets 199,485 183,259 * The net asset is net of zakat expense which is 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 net assets will not representing the Group’s and the Bank’s share of net assets in Wasatah Capital that disclosed in Note 14(b)(iii) below. The difference will be the total zakat expenses that was fully borne by the Saudi shareholders. (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2019 RM’000 2018 RM’000 Revenue 14,820 24,644 Profit before taxation 1,119 9,044 Tax credit/(expense) 1,314 (1,872) Other comprehensive income/(loss) 18,966 (15,223) Total comprehensive income/(loss) 21,399 (8,051)