Notes tothe financial statements For the financial year ended 31 December 2023 20. Investment in associate companies (cont’d) The summarised financial information in respect of FPNRL, AAM, AIM and Daitocacao, based on its respective local financial reporting standards which closely aligned with SFRS(I) and a reconciliation with the carrying amount of the investment in the consolidated financial statements are as follows: Summarised balance sheet FPNRL AAM AIM Daitocacao 2023 2022 2023 2022 2023 2022 2023 2022 Rp million Rp million Rp million Rp million Rp million Rp million Rp million Rp million Current assets 343,468 879,221 116,480 84,036 98,431 66,349 196,256 195,708 Non-current assets 2,419,356 3,120,417 4,520,059 4,533,664 3,782,368 3,782,206 345,697 346,998 Total assets 2,762,824 3,999,638 4,636,539 4,617,700 3,880,799 3,848,555 541,953 542,706 Current liabilities 2,868,748 1,614,551 10,465 10,838 10,229 10,672 54,108 30,891 Non-current liabilities 361,952 1,740,525 208,748 211,074 188,166 187,464 27,977 34,832 Total liabilities 3,230,700 3,355,076 219,213 221,912 198,395 198,136 82,085 65,723 Net (liabilities)/assets (467,876) 644,562 4,417,326 4,395,788 3,682,404 3,650,419 459,868 476,983 Proportion of the Group’s ownership 30.00% 30.00% 24.98% 24.98% 24.99% 24.99% 49.00% 49.00% Group’s share of net (liabilities)/assets (140,363) 193,369 735,369 732,961 355,608 352,542 225,318 233,576 Foreign currency translation 39,485 (73,084) – – – – – – Deemed disposal gain – – 12,921 12,921 – – – – Carrying amount of investment –* 120,285 748,290 745,882 355,608 352,542 225,318 233,576 * For the year ended 31 December 2023, the Group’s share of losses in FPNRL exceeds the Group’s interest in its associate. The Group discontinues recognizing its’ share of further losses beyond the carrying amount of the associate. Summarised statement of comprehensive income FPNRL AAM AIM Daitocacao 2023 2022 2023 2022 2023 2022 2023 2022 Rp million Rp million Rp million Rp million Rp million Rp million Rp million Rp million Revenue 628,980 2,890,671 – – – – 186,338 146,754 (Loss)/profit after tax (1,101,385) (216,947) 9,635 9,714 31,984 30,865 (17,057) (28,247) Other comprehensive income for the year 6,728 (76,358) – – – – 100 – Notes tothe financial statements For the financial year ended 31 December 2023 126 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
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