FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 222 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 5 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (CONT’D.) (v) Investments in subsidiaries, associates and joint ventures (Cont’d.) Investment in Trurich Resources Sdn. Bhd. (“Trurich”), a joint venture At 31 December 2013, the Group’s investment in a joint venture, Trurich, was tested for impairment due to losses incurred. The impairment assessment requires an estimation of the recoverable amount of the cash generating units (“CGU”) to which the investment relates to. The recoverable amount was determined based on fair value less cost to sell. As a result of the impairment assessment, no impairment was recognised as the recoverable amount of the CGU exceeds the carrying amount. The key assumptions used to determine the recoverable amount of investment in Trurich are as disclosed in Note 24. (vi) Deferred tax assets Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. This involves judgment regarding the future financial performance of the particular entity in which the deferred tax asset has been recognised. The amount of deferred tax assets arising from tax losses recognised amounted to RM120,802,000 (2012: RM80,137,000) and RM18,919,000 (2012: RM5,138,000) for the Group and Company respectively. 6 REVENUE 2013 2012 RM’000 RM’000 Group Revenue from sales of crude palm oil (“CPO”) 6,973,533 7,104,202 Revenue from sales of fresh fruit bunches (“FFB”) 2,265,150 2,414,325 Revenue from sales of refined sugar and molasses 2,056,221 2,026,843 Revenue from sales of fatty acids 647,597 740,499 Revenue from sales of vegetable oil and protein meal 304,190 - Sugar subsidy 146,203 274,475 Revenue from sales of biodiesel products 46,687 - Revenue from sales of palm kernel (“PK”) 6,613 121,455 Revenue from sales of rubber cup-lump 38,263 54,464 Revenue from tolling arrangement services 21,782 59,575 Management fees 60,034 90,238 Others 1,735 423 12,568,008 12,886,499 Company Dividend from associates: - quoted - 23,718 - unquoted 76,863 173,279 Dividend from subsidiaries: - quoted 16,202 14,659 - unquoted 257,617 515,236 Management fees 75,882 127,368 Finance income from financial institutions 123,796 67,475 550,360 921,735