Notes tothe financial statements For the financial year ended 31 December 2023 20. Investment in associate companies The Group’s investments in associate companies are summarised below: Group 2023 2022 Rp million Rp million Associate companies which are strategic to the Group activities FP Natural Resources Limited (“FPNRL”) – 120,286 Asian Assets Management Pte Ltd (“AAM”) 748,290 745,882 PT Aston Inti Makmur (“AIM”) 355,608 352,542 PT Prima Sarana Mustika (“PT PSM”) 40,640 34,785 PT Indoagri Daitocacao (“Daitocacao”) 225,318 233,576 1,369,856 1,487,071 Group 2023 2022 Rp million Rp million Cost of investment, at cost 1,940,736 1,940,736 Cumulative share of results and other comprehensive income (680,497) (566,316) Foreign currency translation 96,696 99,730 Gain from deemed disposal 12,921 12,921 Carrying value of investment 1,369,856 1,487,071 123 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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