CAHYA MATA SARAWAK ANNUAL REPORT 2016

153 Cahya Mata Sarawak Berhad A N N U A L R E P O R T 2 0 1 6 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 21. INVESTMENTS IN JOINT VENTURES Group 2016 2015 RM’000 RM’000 Unquoted shares, at cost 2,504 2,504 Redeemable preference share, at cost 26,569 27,189 Less: Accumulated impairment losses (6,973) (6,973) 19,596 20,216 Share of post-acquisition reserves 24,511 11,370 46,611 34,090 The joint arrangements are structured via separate unincorporated entities and provide the Group with the rights to the net assets of the entities under the arrangements. Under the contractual arrangements, unanimous consent is required from all parties to the agreements for all relevant activities. Details of the joint ventures are as follows: Name of joint ventures Principal activities Proportion of ownership interest 2016 2015 % % CMS Opus Private Equity Sdn. Bhd. (i) Management of private equity investments 51.0 51.0 COPE-KPF Opportunities 1 Sdn. Bhd. (ii) Investment holding 26.7 26.7 COPE Opportunities 2 Sdn. Bhd. (ii) Investment holding 16.4 16.4 PPES Works - Naim Land JV (i) Construction of bridges 55.0 55.0 PPES Works Larico JV (i) & (iii) Construction of 275kV Balingian - Selangau transmission line and 275kV Selangau - Mapai transmission line 51.0 51.0 PPES Works - PCSB JV (i) Design and build interchange via shallow underpasses 51.0 -