200 / 232
Notes to the
Financial Statements
As at 31 March 2019
42. Associates and activities
Details of associates are as follows:
Proportion of
ownership interest
Name of company
2019
2018 Principal activities
%
%
Marushin Canneries (Malaysia) Sdn. Bhd.
(162963-U)*
38.0
38.0
Manufacturer and sale of canned fish
Held through subsidiary:
Giesecke & Devrient Malaysia Sdn. Bhd.
(573030-M)*
20.0
20.0
Printing and production of bank
notes
* Associates audited by firms of chartered accountants other than Hanafiah Raslan & Mohamad.
43. Material litigation
(i) Hak Guna Usaha No. 01/Nunukan Utara
On 23 August 2016, the Company’s subsidiary, PT Nunukan Jaya Lestari (“PTNJL”), received an order issued
by the Menteri Agraria dan Tata Ruang/Kepala Badan Pertanahan Nasional (“Ministerial Order”) dated
25 July 2016 to revoke PTNJL’s right for the cultivation of oil palm in Kalimantan Utara with immediate
effect.
The Ministerial Order was on the basis that the HGU was improperly issued due to administrative
irregularities performed by certain officers of the Badan Pertanahan Nasional Provinsi Kalimantan Timur
at the time of the issuance of the HGU in 2003, resulting in parts of the area within the HGU to overlap
with forestry areas.
On 21 October 2016, PTNJL filed an application in the Pengadilan Tata Usaha (“PTUN”) in Jakarta, Indonesia
seeking an order to annul the Ministerial Order. Simultaneously, in the said application, PTNJL has also
sought an order from PTUN to postpone the enforcement of the Ministerial Order pending full and final
determination of the matter by the Indonesian courts.
On 13 June 2017, the State Administrative Court delivered an oral judgment and dismissed the application
filed by PTNJL to annul the Ministerial Order. On 21 June 2017, PTNJL had filed an application to the Court
of Appeal to appeal against the decision of the State Administrative Court.
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
196