69 2023 2022 All figures are in A$000's (b) Summarised financial information Dutco McConnell Dowell Middle East LLC has a 31 December year-end (in line with the local shareholder). This differs from the year-end of the Group. Dutco McConnell Dowell Middle East LLC has the same accounting policies as the Group. The Group' s share of bank guarantees issued by Dutco McConnell Dowell Middle East LLC is $8,000 (2022: $10,000) for which no liabilities are expected to arise. There are no capital commitments as at balance date. Profits from the associate cannot be distributed without the consent of both the Group and the local shareholder. The company is scaling back its' operation in the Middle East. The following table illustrates summarised information of the investment in Dutco McConnell Dowell Middle East LLC: Unlisted Carrying amount of the investment At the beginning of the year (5,453) (4,988) Share of results after taxation (182) (465) (5,635) (5,453) Movement in Loan Receivable 4,929 4,744 DMDME current year funding requirements for Contract Liabilities 706 709 At end of year - - The assets, liabilities and results of the operations of the associate are summarised below: Current assets 764 1,130 Non-current assets - - Total assets 764 1,130 Current liabilities 12,779 12,317 Non-current liabilities 77 106 Total liabilities 12,856 12,423 Net assets (12,092) (11,293) Revenue 174 (194) Loss after taxation* (364) (930) Total comprehensive loss after taxation (364) (930) Consolidated * The Group's share of losses in DMDME and its subsidiaries is loss of $0.18 million (2022: loss of $0.47 million). 10. Investments in and loans to associates and others (continued)
RkJQdWJsaXNoZXIy Mjk0NTM=