FGV Audited Financial Statements 2019

189 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 46 LOANS DUE TO A SIGNIFICANT SHAREHOLDER (CONTINUED) The carrying amount and fair value of the loans due to a significant shareholder are as follows: Group and Company Carrying amount Fair value 2019 RM’000 2018 RM’000 2019 RM’000 2018 RM’000 Loans due to a significant shareholder 886,498 1,159,103 886,406 1,158,489 The fair value of loans due to a significant shareholder is based on cash flows discounted using a rate based on the borrowing rate of 4.84% (2018: 4.50%). The fair value of the loans due to a significant shareholder is a Level 2 computation. Cash flows and non-cash changes arising from loans due to a significant shareholder financing activities are disclosed in statements of cash flows. 47 LOANS DUE TO SUBSIDIARIES Company 2019 RM’000 2018 RM’000 Unsecured: - Non-current 1,324,884 845,985 - Current 152,228 258,924 1,477,112 1,104,909 The loans are denominated as follows: - Ringgit Malaysia 1,477,112 1,104,909 1,477,112 1,104,909 In previous financial year, a subsidiary of the Company, had agreed to waive the loan due to a subsidiary amounting to RM28,053,000.