13. INVESTMENTS IN ASSOCIATES (CONTINUED) Reconciliation of the summarised financial information presented to the carrying amount of the Group’s interest in significant associates for the financial year ended 30 September 2025 and 2024, are as follows: PIIPL Group SRPL NSAPL Group Total $’000 $’000 $’000 $’000 30 September 2025 Proportion of Group ownership 49% 20% 31.1% Net assets/(liabilities) of the associates 12,305 1,569 13,971 Interest in associates 6,030 314 4,345 Carrying value of Group’s interest in associates 6,030 314 4,345 10,689 Amount due from associates 17,101 – – 17,101 Less: allowance for impairment loss (400) – – (400) Less: elimination of unrealised profit (6,763) – – (6,763) Total carrying value of significant associates 15,968 314 4,345 20,627 Add: Carrying amount of individually immaterial associate, in aggregate 272 Carrying amount of Group’s interest in associates 20,899 PIIPL Group SRPL NSAPL Group Total $’000 $’000 $’000 $’000 30 September 2024 Proportion of Group ownership 49% 20% 31.1% Net assets/(liabilities) of the associates (110,125) 1,570 15,977 Interest in associates (53,961) 314 4,969 Carrying value of Group’s interest in associates (53,961) 314 4,969 (48,678) Amount due from associates 86,123 – – 86,123 Less: allowance for impairment loss (4,000) – – (4,000) Less: elimination of unrealised profit (7,235) – – (7,235) Total carrying value of significant associates 20,927 314 4,969 26,210 Add: Carrying amount of individually immaterial associate, in aggregate 270 Carrying amount of Group’s interest in associates 26,480 14. INTERESTS IN JOINT ARRANGEMENTS Investment in joint ventures Group 2025 2024 $’000 $’000 Unquoted equity investment, at cost 2,933 2,933 Amount due from joint venture – interest free 714 714 Share of reserves of joint ventures, net of dividend received and tax 1,787 1,702 Less: allowance for impairment loss (823) (823) Currency realignment (104) (73) 4,507 4,453 ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 97 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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