Dagang NeXchange Berhad Annual Report 2019

FINANCIAL STATEMENTS annual report 2019 145 8. INVESTMENTS IN ASSOCIATES (CONTINUED) Details of the associates are as follows: Principal place of business/ Effective country of ownership interest Name of associate incorporation Principal activities 2019 2018 % % Ping Petroleum Limited Bermuda Exploration, development and production of 30 30 crude oil and natural gas. 1Trade (Thailand) Co., Ltd. Thailand Providing technical consultancy, implementation, 39 - training, maintenance and technical support services related to eBusiness and the operation of business to business (B2B) eCommerce portal. The following table summarises the information of the Group’s material associates, adjusted for any differences in accounting policies and reconciles the information to the carrying amount of the Group’s interest in the associates. Ping Petroleum 1Trade (Thailand) Limited Co., Ltd. Total 2019 2018 2019 2018 2019 2018 Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Summarised financial information as at 31 December Non-current assets 1,339,066 1,166,101 - - Current assets 206,409 233,258 197 - Non-current liabilities (737,509) (678,205) - - Current liabilities (87,629) (51,226) (12) - Net assets 720,337 669,928 185 - Year ended 31 December Revenue 298,605 315,300 39 - Profit for the year 60,832 73,358 17 - Reconciliation of net assets to carrying amount as at 31 December Group’s share of net assets/carrying amount in the statement of financial position 216,021 200,907 91 - 216,112 200,907 Group’s share of results for the year ended 31 December Group’s share of profit for the year 18,250 22,007 8 - 18,258 22,007 Group’s share of other comprehensive income (2,443) 3,867 - - (2,443) 3,867 Group’s share of total comprehensive income 15,807 25,874 8 - 15,815 25,874 Other information Dividend received by the Group 693 627 - -