166 / 232
Notes to the
Financial Statements
As at 31 March 2019
15. Biological assets
Group
2019
2018
RM’000 RM’000
At 1 April 2018/2017
5,102
6,289
Fair value changes recognised in profit or loss
(744)
(802)
Exchange differences
146
(385)
At 31 March
4,504
5,102
Biological assets represents the fresh fruit bunches (“FFB”) of up to 15 days prior to harvest for use in the Group’s
palm product operations. During the financial year ended 31 March 2019, the Group harvested approximately
198,910 metric tonnes (“MT”) of FFB (2018: 198,644 MT). The quantity of unharvested FFB of the Group as at 31
March 2019 included in the fair valuation of FFB was 7,286 MT (2017: 7,316 MT).
In arriving at the fair value, the Group adopted the income approach which considers the net present value of
all directly attributable cash inflows, cash outflows and imputed contributory asset charges where no actual
cash flows associated with the use of assets essential to the agricultural activity. Changes to the assumed prices
of the FFB and tonnage included in the valuation will have a direct effect on the reported valuation.
The Groups biological assets computation is a Level 3 fair value estimation.
If the selling prices of FFB or tonnage changed by 10%, the Group’s fair value changes in FFB would have
increased or decreased by approximately RM275,000 (2018: RM436,000).
16. Investment in subsidiaries
Company
2019
2018
RM’000
RM’000
Unquoted ordinary shares, at cost
In Malaysia
160,913
160,912
Outside Malaysia
44,415
44,415
205,328
205,327
Advances to subsidiaries
14,399
-
219,727
205,327
Less: Accumulated impairment losses
in Malaysia
(21,855)
(16,669)
197,872
188 ,658
Details of the subsidiaries are described in Note 41.
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
162