125 AUDITED FINANCIAL STATEMENTS 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 26 INTERESTS IN JOINT VENTURES (CONTINUED) There are no material contingent liabilities relating to the Group’s interest in the joint ventures. (i) Refining, processing and packing of palm oil based products (ii) Oil palm plantation operation (iii) Processing and selling of oleochemical products (iv) Investment holding (v) Manufacturing and marketing of finished customer and industrial palm oil products (vi) Dissolved (vii) Developing, constructing, operating and maintaining a power plant (viii) Dormant (ix) Cultivation of oil palms # The Group treated these entities as joint ventures as the shareholder agreements require unanimous consent over decisions about relevant activities among the partners. On 10 August 2021, MEO Trading Sdn Bhd (“MEO Trading”), an indirect joint venture of the Group was fully dissolved in relation to the voluntary winding up. The Group received a capital return sum of RM1,519,000 and resulting in a gain on liquidation of RM38,000. In previous financial year, Felda Holdings Bhd. (“FHB”), a wholly-owned subsidiary of the Company, increased the shareholder’s contribution amounting to RM1.27 million in Mapak Edible Oils (Pvt) Ltd. (“MEO”), an indirect joint venture of the Company, for the purpose of funding the proposed expansion of oilseed crushing and solvent extraction plants. The joint venture companies above are private companies and have no quoted market price available for their shares. There are no material contingent liabilities relating to the Group’s interest in the joint ventures.
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