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NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2018
Kumpulan Fima Berhad (11817-V) •
Annual Report 2018
16. Investment in subsidiaries (cont’d.)
(b)
Acquisition of subsidiary (cont’d.)
The details of the net assets acquired and cash flows arising from the acquisition of JPSB’s Group are as follows:
Carrying
Amount
Fair
Value
RM’000
RM’000
Property, plant and equipment
13,038
26,400
Biological assets
11,198
8,600
Trade and other receivables
38
38
Cash and bank balances
50
50
Inventories
6
6
Trade and other payables
(149)
(149)
Borrowings
(29,026)
(29,026)
(4,845)
5,919
Less: Non-controlling interest shares on fair value of
Ladang Bunga Tanjong Sdn. Bhd.
(1,030)
4,889
Negative goodwill on acquisition
(275)
Purchase consideration settled in cash
4,614
Less: Cash and bank balances
(50)
Cash outflow of the Group acquisition
4,564
17. Investment in associates
Group
Company
2018
2017
2018
2017
RM’000
RM’000
RM’000
RM’000
Unquoted shares, at cost
12,251
12,251
2,251
2,251
Share of post acquisition results
31,396
34,265
-
-
43,647
46,516
2,251
2,251
Details of the associates are described in Note 42.
The financial statements of the associates are coterminous with those of the Group, except for Giesecke & Devrient Malaysia
Sdn. Bhd. (“G&D”) which has a financial year end of 31 December to conform with its holding company’s financial year
end. For the purpose of applying the equity method of accounting, the financial statements of G&D for the year ended 31
December 2017 have been used and appropriate adjustments have been made for the effects of transactions between 31
December 2017 and 31 March 2018.