Page 190 - KWAP_AR2022

188 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER REtURNS

notes to the
financial statements
for the year ended 31 december 2022

11. INVESTMENT IN ASSOCIATES (CONTINUED)
in addition to the interests in associates disclosed above, the group also has interests in a number of individually
immaterial associates which are accounted for using the equity method.

2022 2021
RM’000 RM’000

Total Carrying Amount of Individually Immaterial Associates 464,725 328,914
aggregate amounts of the group’s share of:
profit for the year 102,279 43
other comprehensive loss (16,675) -
Total Comprehensive Income 85,604 43

12. INVESTMENT IN JOINT VENTURES

Group KWAP
31 December 31 December 31 December 31 December
2022 2021 2022 2021
RM’000 RM’000 RM’000 RM’000
shares at cost,
unquoted shares outside malaysia - - - -
unquoted shares in malaysia 1,000 1,000 - -
1,000 1,000 - -
share of post acquisition reserves 1,756 (159) - -

2,756 841 - -
less: allowance for impairment losses - - - -
2,756 841 - -

details of the joint venture of KWap, incorporated in malaysia, are as follow:

Effective
Interest
Ownership
Country Of Interest Accounting
Incorporation/ 2022 2021 Model
Name Principal Place % % Applied Principal Activities
tap crunch sdn bhd malaysia 50.0 50.0 equity method investment holding entity

the group’s and KWap’s investment in tap crunch sdn. bhd. amounted to rm5.00.