27 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) All amounts due from/(to) ultimate holding company, subsidiaries, joint ventures, an associate and other related companies are denominated in Ringgit Malaysia. Amounts due from subsidiaries Company 2024 2023 RM’000 RM’000 At 1 January 57,842 460,148 Net movement during the financial year# 11,766 (404,334) (Increase)/decrease in loss allowance during the financial year (9,000) 4,088 Write-off – (28) Conversion into ordinary shares* (Note 23) (1,637) (2,032) At 31 December 58,971 57,842 Analysed as: Non-current 8,237 7,033 Current 50,734 50,809 58,971 57,842 # Included in the movement in the previous financial year was the third interim dividend for the financial year 2022 received from subsidiaries amounted to RM435,700,000. * Conversion into ordinary shares Financial year ended 31 December 2024 (i) On 13 February 2024, the Company subscribed for 166,650 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 USD166,650, equivalent to RM795,000. (ii) On 19 March 2024, the Company subscribed for 179,920 ordinary shares of USD1.00 each from FGVI, a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD179,920, equivalent to RM842,000 Financial year ended 31 December 2023 (iii) On 29 March 2023, the Company subscribed for 122,210 ordinary shares of USD1.00 each from FGVI, a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD122,210, equivalent to RM571,000. (iv) On 22 May 2023, the Company subscribed for 70,993 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD70,993, equivalent to RM332,000. (v) On 28 July 2023, the Company subscribed for 149,985 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD149,985, equivalent to RM695,000. (vi) On 11 September 2023, the Company subscribed for 94,435 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD94,435, equivalent to RM434,000. FGV Holdings Berhad | Audited Financial Statements 2024 Notes to the Financial Statements For the financial year ended 31 December 2024 140
RkJQdWJsaXNoZXIy NDgzMzc=