TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
84
NOTES TO THE FINANCIAL STATEMENTS
8.
Equity-accounted investees (continued)
(b) Interest in joint venture (continued)
Structurflex Sdn. Bhd. (“Structurflex”), the only joint arrangement in which the Group and the Company participate,
is principally engaged in manufacturing truck curtains.
Structurflex is structured as a separate vehicle and provides the Group rights to the net assets of the entity.
Accordingly, the Group has classified the investment in Structurflex as a joint venture.
The following tables summarise the financial information of Structurflex, as adjusted for any differences in
accounting policies. The tables also reconcile the summarised financial information to the carrying amount of the
Group’s interest in Structurflex, which is accounted for using the equity method.
Group and Company
2014
2013
Percentage of ownership and voting interest
50% 50%
Group
2014
2013
RM’000
RM’000
Summarised financial information
As at 31 December
Non-current assets
130
137
Current assets (including cash and cash equivalents)
5,533
4,656
Non-current liabilities
(51)
(3)
Current liabilities
(1,175)
(846)
Cash and cash equivalents
2,080
1,307
Year ended 31 December
Profit and total comprehensive income for the year
693
572
Included in the total comprehensive income:
Revenue
7,058
6,037
Depreciation and amortisation
31
11
Interest income
17
16
Income tax expense
232
209
