168 / 232
Notes to the
Financial Statements
As at 31 March 2019
16. Investment in subsidiaries (cont’d.)
(iii) Summarised statement of cash flows
FCB Group
IFC
2019
2018
2019
2018
RM’000
RM’000
RM’000
RM’000
Net cash generated from/(used in)
operating activities
35,063
(34,298)
(83)
13,579
Net cash used in investing activities
(108,371)
(25,448)
(3,399)
(4,726)
Net cash used in financing activities
(36,337)
(80,705)
-
-
Net (decrease)/increase in cash and cash
equivalents
(109,645)
(140,451)
(3,482)
8,853
Cash and cash equivalents at beginning
of year
165,596
313,309
18,643
11,795
Effect of exchange rate changes
1,904
(7,262)
426
(2,005)
Cash and cash equivalents at end of year
57,855
165,596
15,587
18,643
(a) Acquisition of subsidiary in previous financial year
On 6 October 2017, FCBPH has entered into a conditional Sale and Purchase Agreement with Java Berhad
to acquire 1,000,000 ordinary shares representing the entire total issued and paid-up capital of Java
Plantation Sdn. Bhd. (“JPSB”) for a purchase consideration of RM4,613,941. JPSB holds an 80% interest
in Ladang Bunga Tanjong Sdn. Bhd., which operates an oil palm plantation held under the Individual Title
Geran 36415, Lot 2429, Mukim Lubok Bongor, Jajahan Jeli, Kelantan measuring approximately 3,289.9
acres or 1,331.0 hectares. The lease period for the land is for 66 years and expiring on 28 September 2069.
The acquisition was completed on 20 February 2018. On 6 April 2018, JPSB has changed its name to FCB
Eastern Plantations Sdn. Bhd..
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
164