Page 194 - KWAP_Integrated-Report_2023

enricHing national Progress ENRICHING SUSTAINABLE RETURNS

notes to tHe financial statements

for the year ended 31 december 2023

13. iNVESTMENT iN JOiNT VENTURES
Group
31 December 31 December
2023 2022
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 5,017 1,756
6,017 2,756
less: allowance for impairment losses - -
6,017 2,756

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

Effective
interest
Ownership
Country Of interest Accounting
incorporation/ 2023 2022 Model
Name Principal Place % % Applied Principal Activities

tap crunch sdn bhd malaysia 50.00 50.00 equity method investment holding entity
the group’s and KWap’s investment in tap crunch sdn. bhd. amounted to rm5.00.

details of the joint venture of subsidiaries are as follow:

Effective
interest
Country Of Ownership
incorporation/ interest Accounting
Principal Place 2023 2022 Model
Name Of Business % % Applied Principal Activities

persada mentari sdn bhd malaysia 20.00 20.00 equity method real estate development
services

192 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INTEGRATED REPORT 2023