FGV Annual Report 2012

72 Felda Global Ventures Holdings Berhad 21 INVESTMENT IN SUBSIDIARIES (continued) (c) Acquisition of plantation estates (continued) (vii) The results of the plantation estates that have been accounted for in the statement of comprehensive income under the predecessor method of accounting are as follows: Goup 2012 2011 RM’000 RM’000 Revenue 2,709,446 3,251,909 Cost of sales (1,600,756) (1,491,493) Gross profit 1,108,690 1,760,416 Other operating income 4,602 4,417 Administrative expenses (117,698) (96,222) Finance income 4,447 – Finance costs (620) – Taxation (263,412) (417,153) Profit for the financial year 736,009 1,251,458 (viii) The assets and liabilities contributed by the plantation estates included in the statement of financial position under the predecessor method of accounting are as follows: Goup 2012 2011 RM’000 RM’000 Property, plant and equipment 727,969 695,262 Intangible assets 9,928 – Biological assets 1,892,555 1,891,544 Inventories 80,869 24,164 Receivables 14,739 8,103 Tax recoverable 1,161 – Amounts due from/(to) other related companies 83,371 (129,794) Cash and cash equivalents 783,601 306 Deferred tax liabilities (19,036) (17,874) Provision for defined benefit plan (19,243) – Payables (202,050) (123,969) Borrowings (100,000) – 3,253,864 2,347,742 Notes to the Financial Statements for the financial year ended 31 December 2012