P Ltd (a Singapore-incorporated company whose functional and presentation currency is S$) acquired 40% of M Bhd (a Malaysia-incorporated company whose functional and presentation currency is RM) in 20x5. On 31 December 20x7, M Bhds net assets were RM500 million. For the year ended 31 December 20x8, M Bhds profit after tax was RM100 million. The exchange rate on 31 December 20x7 was RM1.00 = S$0.50. The average exchange rate for the year 20x8 was RM1.00 = S$0.40. The exchange rate on 31 December 20x8 was RM1.00 = S$0.30. The Share of associates profit and Share of associates other comprehensive income/(loss) in the 20x8 consolidated financial statements should be respectively:

Group of answer choices

S$12 million and (S$28 million).

S$16 million and (S$44 million).

S$16 million and (S$28 million).

S$12 million and (S$44 million).

None of the listed choices.