14. INVESTMENTS IN ASSOCIATES (CONTINUED) KHPL PIIPL Group SRPL NSAPL Group Total $’000 $’000 $’000 $’000 $’000 30 September 2022 (Restated) Proportion of Group ownership 20% 49% 20% 31.1% Net assets/(liabilities) of the associates 258,393 (88,841) 1,460 17,625 188,637 Less: equity reserve (168,763) – – – (168,763) Interest in associates 17,926 (43,532) 292 5,254 (20,060) Carrying value of Group’s interest in associates 17,926 (43,532) 292 5,254 (20,060) Amount due from associates 34,601 91,924 – – 126,525 Less: allowance for impairment loss (14,795) (18,753) – – (33,548) Less: elimination of unrealised profit – (8,104) – – (8,104) Total carrying value of significant associates 37,732 21,535 292 5,254 64,813 Add: Carrying amount of individually immaterial associate, in aggregate 537 Carrying amount of Group’s interest in associates 65,350 15. INTERESTS IN JOINT ARRANGEMENTS Investments in joint ventures Group 2024 2023 2022 $’000 $’000 $’000 (Restated) (Restated) Unquoted equity investment, at cost 2,933 2,933 2,933 Amount due from joint venture – interest free 714 714 714 Share of reserves of joint ventures, net of dividend received and tax 1,702 3,391 4,153 Less: allowance for impairment loss (823) (823) (823) Less: elimination of unrealised profit – – (263) Currency realignment (73) (34) 3 4,453 6,181 6,717 The amount due from joint venture forms part of the Group’s net investment in joint ventures. The loan is unsecured and settlement is neither planned nor likely to occur in the foreseeable future. The amount due from joint ventures is denominated in Singapore dollar. 101 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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