FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 250 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 22 INVESTMENT IN SUBSIDIARIES (Cont’d.) (b) Incorporation and acquisition of subsidiaries (Cont’d.) (i) The effects of the acquisition of PUP is as follows: (Cont’d.) RM’000 Purchase consideration 1,203,841 Less: Cash and cash equivalents acquired (205,895) Net cash outflow on acquisition 997,946 The goodwill on acquisition is as follows: Purchase consideration 1,203,841 Fair value of net assets acquired (1,076,603) Goodwill on acquisition (Note 21) 127,238 The Group recognised the non-current controlling interest in PUP at the non-controlling interest’s proportionate share of the recognised amounts of PUP’s identifiable net assets. The effects of the acquisition of PUP on the financial results of the Group during the financial year is shown below: RM’000 Revenue 51,315 Cost of sales (32,847) Gross profit 18,468 Other operating income 6,192 Administrative expenses (4,797) Finance income 3,605 Share of results of associates (2) Profit before taxation 23,466 Taxation (5,609) Profit after taxation 17,857 The effect of the acquisition of PUP on the financial results of the Group during the financial year had the acquisition taken effect at the beginning of the financial year is shown below: RM’000 Revenue 201,700 Cost of sales (142,262) Gross profit 59,438 Other operating income 9,577 Administrative expenses (31,588) Share of results of associates (8) Profit before taxation 37,419 Taxation (22,436) Profit after taxation 14,983