FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 260 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 23 INTERESTS IN ASSOCIATES Group 2013 2012 RM’000 RM’000 Share of net assets of associates 371,063 2,386,306 Company 2013 2012 RM’000 RM’000 Interests in associates, at cost: At 1 January 1,775,226 1,775,226 Disposal ^ (207,614) - Transfer to investment in subsidiaries α (Note 22) (1,567,612) - At 31 December - 1,775,226 Analysed as: - Quoted in Malaysia - 207,614 - Unquoted in Malaysia - 1,567,612 At 31 December - 1,775,226 Market value of investment in associate, quoted in Malaysia - 530,089 ^ On 28 February 2013, the Company disposed of its 20% equity interest in Tradewinds (M) Berhad for a total consideration of RM551.43 million, which resulted in a gain on disposal of RM26.67 million for the Group and RM343.82 million for the Company. α On 27 December 2013, the Company acquired the remaining 51% equity interest in Felda Holdings Berhad (“FHB”) for a purchase consideration of RM2.20 billion. Consequently, the Company’s effective interest in FHB increased from 49% to 100% and FHB become a wholly-owned subsidiary. Summarised financial information in respect of the Group’s share of revenue, profit, assets and liabilities of its associates is set out below: Group 2013 2012 RM’000 RM’000 Revenue 16,873,944 25,940,370 Group’s share of results for the financial year 83,368 201,079 Share of capital commitments of associates - 619,637