133 ANNUAL REPORT 2024 Notes to The Financial Statements 31 December 2024 15. Investments in associates (cont’d) Megachem Thailand is considered material to the Group. The summarised financial information of Megachem Thailand and its subsidiaries and the amounts (and not the Group’s share of those amounts) based on the financial statements of Megachem Thailand and its subsidiaries are as follows. These are adjusted to reflect adjustments made by the Group when using the equity method. 2024 2023 $ $ Dividends paid 1,518,000 1,699,500 Revenue 40,945,306 37,700,919 Profi t 3,963,607 3,534,712 Other comprehensive (loss)/income (648) 56,244 Total comprehensive income 3,962,960 3,590,956 Current assets 25,080,207 18,640,903 Non-current assets 17,954,989 18,000,107 Current liabilities (10,642,072) (7,272,988) Non-current liabilities (1,927,190) (1,981,401) Net assets of the associate 30,465,934 27,386,621 Associate’s non-controlling interest 4,626,778 4,217,773 Proportion of the Group’s interest in the associate 36.194% 36.194% Carrying amount of the interest in the associate 9,352,224 8,385,733 16. Transferable club memberships Group Company 2024 2023 2024 2023 $ $ $ $ Transferable club memberships at cost 77,871 77,871 47,071 47,071 Currency translation differences (9,556) (10,708) – – Less: allowance for impairment (43,070) (43,070) (43,070) (43,070) Total transferable club memberships 25,245 24,093 4,001 4,001 Movement in allowance for impairment: Balance at beginning and end of year 43,070 43,070 43,070 43,070 The carrying value of club memberships is at cost less allowance for impairment. The fair value of the club memberships is deemed to be not reliably measurable as the probabilities of the various estimates within the range cannot be reasonably assessed and used in estimating fair values. Consequently it is carried at cost less allowance for impairment.
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