Kenanga Investment Bank Berhad Annual Report 2021 224 Our Sustainability Approach About This Report We Are Kenanga Message From Chairman and GMD 14. INVESTMENTS IN ASSOCIATES (CONT'D.) (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 2021 RM'000 2020 RM'000 Current assets 90,389 81,164 Non-current assets 196,093 158,950 Total assets 286,482 240,114 Current liabilities 13,704 13,976 Non-current liabilities 3,720 3,343 Total liabilities 17,424 17,319 Net assets * 269,058 222,795 * The net assets are net of zakat expenses which 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 net assets will not represent the Group's and the Bank's share of net assets in Wasatah Capital as disclosed in Note 14(b)(iii) below. The difference will be the total zakat expenses that were fully borne by the Saudi shareholders. (ii) Summarised statement of profit or loss and other comprehensive income Wasatah Capital 2021 RM'000 2020 RM'000 Revenue 40,832 33,832 Profit before taxation 20,811 16,149 Tax credit/(expense) 177 (5,534) Other comprehensive income 20,617 16,225 Total comprehensive income 41,605 26,840 Notes to the Financial Statements 31 December 2021
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