CFSL Integrated Report 2025

FINANCIAL

196

Risk Management

Corporate Governance

Statutory Disclosures

21. INVESTMENT IN JOINT VENTURE

GROUP & COMPANY Sep-25 MUR m

Sep-24 MUR m

–

– –

(a)

At 1 October

6.2 6.2

Deposit on shares

–

At 30 September

Details pertaining to the joint venture

(b)

Proportion of direct ownership (%)

Proportion of indirect ownership (%)

Stated Capital (MUR 000s) Sep-25 Sep-24 Sep-25 Sep-24

Principal activity

Name of joint venture

Year end

Tour operator and travel agency

6,243

50.0

–

30 September

–

–

KotNouAle Travels Ltd

(i) The above joint venture is accounted for using the equity method in the consolidated financial statements. (ii) During the year, the Company made a deposit on shares amounting to MUR6.2 m for 50% holding.

22. INVESTMENT IN ASSOCIATES

GROUP

COMPANY

Sep-25 MUR m

Sep-25 MUR m

Sep-24 MUR m

Sep-24 MUR m

(a)

Movement in investment in associates At 1 October

15.0

22.7

14.0

19.7

–

– –

3.0

3.0

Addition

(4.0)

(2.0)

–

Share of loss

11.0

22.7

15.0

22.7

At 30 September

(i) Impairment of investments The Group tested for impairment for its investment in associates. Impairment tests were done in accordance with IAS 36 - Impairment of Assets where a value in use approach has been used, with a pre-tax rate of 5.76% (2024:5.71%). As a result of the assessments, the directors have recognised no impairment for the year ended 30 September 2025 (2024: nil). (b) Details of the associates Details of the associates at the reporting date are as follows: Proportion of direct ownership (%) Proportion of indirect ownership (%)

Principal place of business

Principal activity

Country of incorporation Sep-25 Sep-24 Sep-25 Sep-24

Name of associates

Year end

40.0

– –

40.0 40.0

– –

Li & Fung (Mauritius) Ltd (iii) Buying agent Mauritius Mauritius

31 December 31 December

–

Dodwell (Mauritius) Ltd (ii)

Buying agent Mauritius Hong Kong Digital lending platform Mauritius Mauritius

Fundkiss Technologies Ltd (iii)

30.5

–

30.5

–

30 June

(i) All of the above associates are accounted for using the equity method in the consolidated financial statements. (ii) In December 2024, Dodwell (Mauritius) Ltd has been liquidated. (iii) For the purposes of applying the equity method of accounting, the financial statements of Fundkiss Technologies Ltd and Li and Fung ( Mauritius) Ltd for the year ended 30 September 2025 have been used.