FGV Audited Financial Statements 2019

167 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 2019 29 AMOUNTS DUE FROM/(TO) A SIGNIFICANT SHAREHOLDER, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) Amounts due from subsidiaries Company 2019 RM’000 2018 RM’000 At 1 January 722,222 774,524 Net movement during the financial year 364,610 (36,973) Loss allowance during the financial year (4,246) (7,504) Conversion into ordinary shares # (Note 24) (8,118) (7,825) At 31 December 1,074,468 722,222 Analysed as: Non-current 634,340 - Current 440,128 722,222 1,074,468 722,222 Financial year ended 31.12.2019 # On 13 December 2019, the Company subscribed for 1,952,128 ordinary shares of USD1.00 each from FGV Investment (L) Pte. Ltd. (“FGVI”), a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD1,952,128, equivalent to RM8,118,000. Financial year ended 31.12.2018 # On 26 September 2018, the Company subscribed for 1,889,706 ordinary shares of USD1.00 each from FGV Investment (L) Pte. Ltd. (“FGVI”), a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD1,889,706, equivalent to RM7,825,000.