FGV Audited Financial Statements 2019

179 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 38 ASSETS AND LIABILITIES HELD FOR SALE The details of assets held for sale are as follows: Group 2019 RM’000 2018 RM’000 Assets Property, plant and equipment (Note1) 80,794 1,073 Right-of-use assets (Note1) 82,083 - Intangible assets 1,547 2,027 Interests in an associate (Note 2) 26,903 - Receivables 445 842 Deposits, cash and bank balances 727 887 Assets held for sale 192,499 4,829 Liabilities Payables 616 985 Liabilities related to assets held for sale 616 985 Note 1 During the financial year, the Board of Director of the Group had approved the proposed disposal of nine (9) parcels of leasehold agricultural lands known as “Ladang Chuping” registered under MSM Perlis Sdn. Bhd., an indirect subsidiary of the Company, for a total proceed of RM156,000,000, which is expected to be completed in 2020. Note 2 The Board of Director of the Company had approved a proposed divestment of the 30% equity interest in Nilai Education Sdn. Bhd., an associate of the Group which is expected to be completed in 2020.