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Notes to the
Financial Statements
As at 31 March 2019
16. Investment in subsidiaries (cont’d.)
(a) Acquisition of subsidiary in previous financial year (cont’d.)
The details of the net assets acquired and cash flows arising from the acquisition of JPSB’s Group
are as follows:
Carrying
Fair
Amount
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
2019
2018
2019
2018
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
19,023
31,396
-
-
31,274
43,647
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 2018 have been used and appropriate adjustments have
been made for the effects of transactions between 31 December 2018 and 31 March 2019.
financial
statements
165