FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 276 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 28 AMOUNTS DUE FROM/(TO) A SIGNIFICANT SHAREHOLDER, SUBSIDIARIES, JOINT VENTURES, ASSOCIATE AND OTHER RELATED COMPANIES (CONT’D.) Impaired and provided for (Cont’d.) Movement of the Company’s provision for impairment of amount due from is as follows: Group 2013 2012 RM’000 RM’000 Amounts due from subsidiaries At 1 January/31 December 684 684 Amounts due from a significant shareholder, joint ventures, associate and other related companies of RM476,489,000 (2012: RM884,295,000) of the Group and amounts due from significant shareholder, subsidiaries, associate and other related companies of RM58,963,000 (2012: RM154,838,000) of the Company are neither past due nor impaired as it yet to exceed the credit period. The credit quality of related companies that are neither past due nor impaired can be assessed to historical information about counterparty default rates: Group Company 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Amounts due from a significant shareholder Group 2 64,086 73,091 377 52,442 Amounts due from subsidiaries Group 2 - - 58,584 39,447 Amounts due from joint ventures Group 2 395,062 316,728 - - Amounts due from an associate Group 2 37 - - - Amounts due from other related companies Group 2 17,304 494,476 2 62,949 Total unimpaired amounts from related parties 476,489 884,295 58,963 154,838 Group 1 – new related parties (less than 6 months) Group 2 – existing related parties (more than 6 months) with no defaults in the past. Group 3 – existing related parties (more than 6 months) with some defaults in the past. All defaults were fully recovered. The fair value of the amounts due from a significant shareholder, subsidiaries, joint ventures, associate and other related companies are equal their carrying value, as the impact of discounting is not significant