cont'd - KNM Steel Sdn Bhd

80KNM GROUP BERHAD I Annual Report 2012Notes to the Financial Statements (cont’d)7. Investments in jointly-controlled entities (Cont’d)The Group’s aggregate share of the asset and liabilities of jointly-controlled entities are as follows:Group31.12.2012 31.12.2011 1.1.2011RM’000 RM’000 RM’000Non-current assets 15,285 7,972 89Current assets 10,373 16,220 2,154Non-current liabilities (3,581) (37) (79)Current liabilities (15,180) (18,237) (2,516)Effect of movements in exchange rates 497 (36) –Share of net asset/(liabilities) of jointly-controlled entities 7,394 5,882 (352)The Group’s aggregate share of the revenue and expenses of jointly-controlled entities are as follows:Group31.12.2012 31.12.2011 1.1.2011RM’000 RM’000 RM’000Revenue 22,628 20,954 1,862Expenses (22,577) (20,322) (2,501)Share of net profit/(loss) of jointly-controlled entities 51 632 (639)The Group’s share of the cumulative losses of KPN Gas Technology Sdn. Bhd. amounting to Nil (31 December2011: Nil; 1 January 2011: RM668,000) has not been recognised in the Group’s profit or loss using equitymethod because the Group’s share of losses of the jointly-controlled entity exceeded the carrying amount ofits investment in the jointly-controlled entity.8. Other investmentsGroupRedeemableClub ConvertibleShares Member- PreferenceUnquoted ship Shares Total31 December 2012 RM’000 RM’000 RM’000 RM’000Non-currentAvailable-for-sale financial asset 3,887 100 – 3,987Loans and receivables – – 11,615 11,6153,887 100 11,615 15,602Less: Impairment loss (1,389) (30) – (1,419)2,498 70 11,615 14,183Representing items:At cost 2,498 – 11,615 14,113At fair value – 70 – 702,498 70 11,615 14,183