FGV Annual Report 2014

22 Investment in Subsidiaries (continued) (b) Incorporation and acquisitions of subsidiaries during the financial year (continued) (i) The effects of the acquisition of GP is as follows: Carrying value Fair value RM’000 RM’000 Property, plant and equipment 133 133 Intangible assets 7,938 25,012 Trade and other receivables 2,437 2,437 Tax recoverables 4 4 Cash and cash equivalents 2,163 2,163 Deferred tax assets 473 473 Payables (791) (791) Taxation (63) (63) Deferred tax liabilities – (4,783) Total net assets acquired 12,294 24,585 Non-controlling interests – (3,687) 12,294 20,898 The cash outflow on acquisition is as follows: RM’000 Purchase consideration: 31,856 Less: Cash and cash equivalents acquired (2,163) Net cash outflow on acquisition 29,693 The goodwill on acquisition is as follows: RM’000 Purchase consideration: 31,856 Fair value of net assets acquired (20,898) Goodwill on acquisition 10,958 The Group recognised the non-current controlling interest in GP at the non-controlling interest’s proportionate share of the recognised amounts of GP’s identifiable net assets. Felda Global Ventures Holdings Berhad pg 250 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2014