130
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
11. INTERESTS IN ASSOCIATES
Group
2016
RM’000
2015
RM’000
Unquoted equity shares, at cost
4,894
4,894
Share of post acquisition profit/(losses), net of dividends received
84
(211)
Loan to an associate
(1)
4,855
4,855
9,833
9,538
Less: Impairment losses
(9,441)
(9,441)
392
97
(1)
In the previous financial years, the Group provided a loan to an associate (refer to Note 15(a) to the financial statements) of which the
fair value at initial recognition based on prevailing market interest rate was lower than its transaction price. The difference between the
transaction price and the fair value of the loan to an associate was recognised as part of the interests in the associates of the Group.
The details of the associates are as follows:
Effective interest
in equity
Name of company
Country of
incorporation
2016
%
2015
% Principal activities
Associates of Bonia Corporation Berhad
Makabumi Sdn. Bhd. (“MBSB”)
Malaysia
40
40 Dormant
Paris RCG Sdn. Bhd. (“PRCG”)
(1)
Malaysia
30
30 Managing food and beverage business
Associate of BCB Properties Sdn. Bhd.
Serene Glow Sdn. Bhd. (“SGSB”)
(1)
Malaysia
33
33 Property investment and development
Associates of Jeco (Pte) Limited
BraunVerwaltungs-GmbH (“BVG”)
(1)
Germany
34
34 Marketing and distribution of fashionable leather goods
Braun GmbH& Co. KG (“BBKG”)
(1)
Germany
34
34 Marketing and distribution of fashionable leather goods
(1)
Associates audited by firms of auditors other than BDO.
All the above associates are accounted for using the equity method in the consolidated financial statements.
