FGV Annual Report 2012

69 F i n a n c i a l S t a t e m e n t s 2 0 1 2 P e n y a t a K e w a n g a n 21 INVESTMENT IN SUBSIDIARIES (continued) (b) Incorporation, acquisition and dissolution of subsidiaries (continued) The effects of the acquisition of PT. Citra Niaga Perkasa can be summarised below: Carrying value/ Fair value RM’000 Land use rights (Note 20) 15,837 Cash and cash equivalents 16 Receivables 767 Payables (85) Total net assets acquired 16,535 Non-controlling interests (35) Fair value of net assets acquired (less non-controlling interest) 16,500 Purchase consideration (16,500) Goodwill on acquisition – The cash outflow on acquisition is as follows: Purchase consideration 16,500 Less: Deferred consideration (825) Less: Cash and cash equivalents of subsidiary acquired (16) Net cash outflow of the Group 15,659 Less: Deposit paid in 2011 (5,775) Acquisition of subsidiary, net of cash inflows 9,884 The effect of the acquisition of PT. Citra Niaga Perkasa on the financial results of the Group during the financial year, and had the acquisition taken effect at the beginning of the financial year is shown below: RM’000 Operating expenses (1,219) Loss after taxation (1,219)