Page 190 - KWAP_Integrated-Report_2023

enricHing national Progress ENRICHING SUSTAINABLE RETURNS

notes to tHe financial statements

for the year ended 31 december 2023

11. iNVESTMENT iN SUBSiDiARiES (CONTiNUED)
details of the subsidiaries, with the country of incorporation are as follows: (continued)

Effective
Country Of Ownership Non-Controlling
incorporation/ interest interest
Principal Place 2023 2022 2023 2022
Name Of Business % % % % Principal Activities

prima harta 5 (Jersey) limited Jersey 100.0 100.0 - - management of investment
trust
prima harta 6 (Jersey) unit Jersey 99.9 99.9 0.1 0.1 management of investment
trust trust
prima harta 6 (Jersey) limited Jersey 100.0 100.0 - - management of investment
trust
capsquare tower sdn bhd malaysia 100.0 100.0 - - management of property
KWest sdn bhd malaysia 100.0 100.0 - - property development
harta integra berkat sdn bhd malaysia 100.0 100.0 - - management of property
harta rini sdn bhd malaysia 100.0 100.0 - - management of property
* none of the subsidiaries are audited by Jabatan audit negara malaysia.

12. iNVESTMENT iN ASSOCiATES

Group KWAP
31 December 31 December 31 December 31 December
2023 2022 2023 2022
RM’000 RM’000 RM’000 RM’000

shares at cost,
unquoted shares 1,025,478 838,429 1,008,190 831,930
1,025,478 838,429 1,008,190 831,930
share of post acquisition reserves 240,397 296,983 - -

1,265,875 1,135,412 1,008,190 831,930
less: allowance for impairment losses (10,482) - (10,482) -
1,255,393 1,135,412 997,708 831,930

188 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INTEGRATED REPORT 2023