FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 242 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 22 INVESTMENT IN SUBSIDIARIES (Cont’d.) Company 2013 2012 RM’000 RM’000 At cost less accumulated impairment (Cont’d.) (iii) Foreign unquoted shares: At 1 January/31 December 9,233 9,233 (iv) RCPS/RCCPS: At 1 January 2,322,334 1,719,917 Conversion of amounts due from subsidiaries into RCPS/RCCPS (Note 28) - 1,338,532 Disposal # - (620,759) Impairment loss (12,391) (115,356) At 31 December 2,309,943 2,322,334 (v) Capital contribution to subsidiaries: At 1 January 15,600 11,937 Financial guarantee contract (Note49) - 13,476 Disposal - (9,813) At 31 December 15,600 15,600 Total 8,024,403 2,901,093 Market value of Malaysian quoted shares, based on Company’s direct interest 385,751 371,864 Financial year ended 31 December 2013 * On 16 January 2013, the Company subscribed for 9,999,998 ordinary shares of RM1.00 each from Felda Global Ventures Research and Development Sdn. Bhd. (“FGV R&D)”), a wholly owned subsidiary of the Company, for a cash consideration of RM9,999,998. On 5 August 2013, the Company subscribed for 2,499,998 ordinary shares of RM1.00 each from Felda Global Ventures Downstream Sdn. Bhd. (“FGVD”), a wholly owned subsidiary of the Company, for a cash consideration of RM2,499,998. On 14 November 2013, the Company subscribed for 73,206,521 ordinary shares of RM1.00 each from FGVD, for a cash consideration of RM50,000,000 and by conversion of an amount due from FGVD of RM23,206,521. On 18 December 2013, the Company subscribed for 9,774,529 ordinary shares of RM1.00 each from Felda Global Ventures Plantations Sdn. Bhd. (“FGVP”), a wholly owned subsidiary of the Company, for a cash consideration of RM900,000 and by conversion of an amount due from FGVP of RM8,874,529. On 18 December 2013, the Company subscribed for 68,767,229 ordinary shares of RM1.00 each from FGVD, for a cash consideration of RM68,767,229.