amount of RM133.0 million (USD28.5 million) in cash. Hence, GEL has ceased to be an associate of the Group. Accounting Policy Associates are all entities over which the Group has significant influence but not control or joint control, generally accompanying a shareholding of between 20.0% and 50.0% of the voting rights. Investments in associates are accounted for in the consolidated financial statements using the equity method of accounting and are initially recognised at cost. Equity accounting is discontinued when the Group ceases to have significant influence over the associates. The Group’s share of its associates’ post-acquisition profits or losses are recognised in the statement of profit or loss, and its share of post-acquisition movements in OCI are recognised in OCI. The cumulative post-acquisition movements are adjusted against the carryingamount of the investment. When the Group’s share of losses in an associate equals or exceeds its interests in the associate, including any long term interests that, in substance, form part of the Group’s net investment in the associate, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate. If the associate subsequently reports profits, the Group resumes recognising its share of those profits only after its share of the profits equals the share of losses not recognised. The Group’s investments in associates include goodwill identified on acquisition, net of any accumulated impairment losses (Note 3(c)). Profits and losses resulting from upstream and downstream transactions between the Group and its associates are recognised in the Group’s financial statements only for the unrelated investor’s interests in the associates. The accounting policies of associates are adjusted where necessary to ensure consistency with the policies adopted by the Group. Dilution of gains and losses in associates are recognised in the consolidated statement of profit or loss. If the ownership