FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 263 23 INTERESTS IN ASSOCIATES (Cont’d.) Reconciliation of summarised financial information Reconciliation of the summarised financial information presented to the carrying amount of its interest in associates FHB Tradewinds Taiko Clay Insignificant in aggregate Total 2013 2012 2013 2012 2013 2012 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Opening net assets 3,820,938 3,865,860 2,570,232 2,469,625 - - - - 6,391,170 6,335,485 Acquisition of subsidiary - - - - 478,334 - 739,490 - 1,217,824 - Profit for the period 210,497 484,198 52,322 313,934 - - - - 262,819 798,132 Other comprehensive loss (8,851) (980) (150) (901) - - - - (9,001) (1,881) Non-controlling interest (50,050) (96,105) (17,772) (106,630) - - - - (67,822) (202,735) Dividend (156,863) (353,631) - (109,153) - - - - (156,863) (462,784) Fair value adjustments (41,892) (41,892) 4,730 28,370 - - - - (37,162) (13,522) Disposal (3,808,172) - (2,608,468) - - - - - (6,416,640) - Others 34,393 (36,512) (894) (25,013) - - - - 33,499 (61,525) Closing net assets - 3,820,938 - 2,570,232 478,334 - 739,490 - 1,217,824 6,391,170 Interest in associates - 49% - 20% 21.6% - 20%-30% - - - Carrying value - 1,872,260 - 514,046 103,320 - 267,743 - 371,063 2,386,306 Unrecognised share of loss - - - - - - - - - - 24 INTERESTS IN JOINT VENTURES Group 2013 2012 RM’000 RM’000 Share of net assets of joint ventures 547,564 333,577 Company 2013 2012 RM’000 RM’000 Interests in joint ventures, at cost: At 1 January - 131,831 Disposal - (131,831) At 31 December - - On 21 May 2012, the Company disposed its joint venture, Felda Iffco Sdn. Bhd. (“FISB”) to Felda Global Ventures Downstream Sdn. Bhd. (“FGVD”), a subsidiary of the Company, for a sale consideration of RM94,941,000 which resulted in a loss on disposal of RM36,890,000.