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ENRICHING STAKEHOLDER ASPIRATIONS ENRICHING PERFORMANCE ENRICHING THE COMMUNITY ENRICHING ACCOUNTABILITY & INTEGRITY ENRICHING RESILIENCE & SUSTAINABLE GROWTH

notes to tHe financial statements

for the year ended 31 december 2023

13. iNVESTMENT iN JOiNT VENTURES (CONTiNUED)
the summary of the financial information in relation to aggregated joint ventures of the group and KWap are as
disclosed below.

2023 2022
RM’000 RM’000

Total Carrying Amount of individually immaterial Joint Ventures 6,017 2,756
aggregate amounts of the group’s share of:
profit for the financial year 3,262 1,915

14. LOANS AND RECEiVABLES

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

Non-Current
loans and receivables
- commercial loan 372,886 434,136 372,886 434,136
- loans to related parties - - 275,008 253,818
long term receivables 20,813 22,077 - -
393,699 456,213 647,894 687,954

Current
loans and receivables
- commercial loan 112,935 584,683 112,935 584,683

loans and receivables to corporate institutions are subject to interest rates ranging from 3.60% to 4.71%
(2022: 3.60% to 4.68%) per annum as well as the annual review.

as at 31 december 2023, loans to related parties relates to two (2) loans being the loans to high bay logistics
1 (lux) s.à r.l. and high bay logistics 2 (lux) s.à r.l., subsidiaries of prima harta 3 (lux) s.à r.l. with the principal
amount of rm152.9 million or eur30.1 million and rm122.1 million or eur24.1 million respectively (2022: rm141.1
million or eur30.1 million and rm112.7 million or eur24.1 million respectively), at an interest rate of euribor +
1.10% for both loans.

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