at cost inclusive of goodwill and adjusted thereafter for accumulated impairment losses and the post-acquisition change in the Group’s share of net assets of the joint ventures. Unrealised gains on transactions between the Group and its joint ventures are eliminated to the extent of the Group’s interest in joint ventures. Unrealised losses are also eliminated on the same basis but only to the extent of the costs that can be recovered, and the balances that provide evidence of reduction in net realisable value or an impairment of the asset transferred are recognised in the consolidated statement of profit or loss. 8 JOINT ARRANGEMENTS (CONTINUED) Joint ventures Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Unquoted shares 88.4 88.4 7.9 7.9 Share of post-acquisition results and reserves 132.0171.8 0 0 220.4 260.2 7.9 7.9 Less: Accumulated impairment losses (12.0) (10.7) (7.9) (7.9) 208.4 249.5 0 0 Share of net assets of joint ventures 208.4 249.5 None of the joint ventures are material individually to the financial position, financial performance and cash flows of the Group. The aggregated financial information of the Group’s joint ventures is as follows: 2023 RM’million 2022 RM’million Group’s share of results: Profit after tax and total comprehensive income 18.1 21.0 Dividend received 57.9 0 Amounts due from joint ventures Amounts due from joint ventures* 42.5 56.9 Less: Loss allowances (19.8) (12.3) 22.7 44.6 * The Group’s credit policy provides amounts due from joint ventures with a 30 days (2022: 30 days) credit period. The list of the Group’s joint arrangements is disclosed in Note 50. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 232 9 ASSOCIATES Group Company Note 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Unquoted shares (a) 2,048.2 3,307.9 75.7 75.7 Share of post-acquisition results and reserves 13.1 (465.2) 0 0 2,061.3 2,842.7 75.7 75.7 Less: Accumulated impairment losses (b) (602.5) (1,413.0)