FGV Annual Report 2012

80 Felda Global Ventures Holdings Berhad 23 INTERESTS IN JOINTLY CONTROLLED ENTITIES (continued) Details of the jointly controlled entities, which have a financial year ending 31 December, are as follows: Country of Group’s effective interest Name of subsidiary incorporation Principal activities 2012 2011 % % Indirect jointly controlled entities Felda Iffco Sdn Bhd* Malaysia Refining, processing and packing 50.0 50.0 of palm oil based products Felda Iffco Allana (Malaysia) Sdn Bhd Malaysia Dormant 50.0 50.0 Trurich Resources Sdn Bhd Malaysia Developing and establishing 50.0 50.0 commercial oil palm plantation operations Bunge ETGO G.P. α** Canada Sole general partner ofBunge ETGO L.P. 49.0 49.0 including having management and control of the partnership. Bunge ETGO L.P. α @ Canada Originating oilseeds, causing such oilseeds 49.0 49.0 to be-processed, marketing the resulting oil, meals, hulls and other by -products from such processing. * Felda Iffco Sdn Bhd was a direct jointly controlled entity in 2011. α The Group treats these entities as jointly controlled entities, although it owns only 49% equity interests, as the partnership agreement requires unanimous agreement for financial and operating decisions among the partners. ** On 9 December 2011, a wholly-owned subsidiary of the Group, Twin Rivers Technologies Enterprises de Transportations De Graines Oleagineuses Du Quebec Ulc (“TRT ETGO”) entered into a joint venture agreement to acquire a 49% equity interest in Bunge ETGO GP. Inc (“Bunge ETGO”) for a consideration of RM151. @ In the previous financial year, a wholly-owned subsidiary of the Group, Twin Rivers Technologies Enterprises de Transportations De Graines Oleagineuses Du Quebec Ulc (“TRT ETGO”) formed a limited partnership, Bunge ETGO L.P., along with Bunge Ventures Canada L.P. (“Bunge”) for a consideration of RM75.66 million and working capital loan advance of RM45.52 million. Under the terms of this limited partnership, Bunge ETGO L.P. is responsible to take over TRT ETGO’s role for originating oilseeds, causing such oilseeds to be processed, and marketing the resulting oil, meals, hulls and other by-products from such processing. Bunge ETGO assumes all incidental ancillary activities related to foregoing, including risk management activities such as hedging activities, forward sales and similar strategies. Notes to the Financial Statements for the financial year ended 31 December 2012