FGV Annual Report 2014

24 Interests in Joint Ventures (continued) Summarised financial information for joint ventures (continued) Name of companies Country of incorporation Group’s effective interest Nature of the business 2014 % 2013 % Joint ventures of FHB FPG Oleochemicals Sdn. Bhd. Malaysia 50.0 50.0 (v) Malaysia Pakistan Venture Sdn. Bhd. (30 June) _ Malaysia 37.5 37.5 (vi) Voray Holdings Limited (30 September) _ Hong Kong – 45.0 (vi) Mapak Edible Oils (Pvt) Ltd _ (30 June) Pakistan 30.0 30.0 (vii) MEO Trading Sdn. Bhd. _ Malaysia 30.0 30.0 (viii) FTJ Biopower Sdn. Bhd. _ Malaysia 43.0 43.0 (ix) ProXcel Sdn. Bhd. _ Malaysia 40.0 40.0 (x) Sahabat Renewable Fuel Ventures Sdn. Bhd. _ Malaysia 36.7 36.7 (xi) MyBiomass Sdn. Bhd _ Malaysia 23.1 23.1 (xii) FGV Pho La Min Co. Ltd. _ Myanmar 51.0 – (xiii) INDIRECT JOINT OPERATION Kuala Muda Estate Joint Venture Malaysia 50.0 50.0 (xiv) (i) Refining, processing and packing of palm oil based products (ii) Producing of tocotrienol from refined bleached palm oil (iii) Dormant (iv) Oil palm plantation operation (v) Processing and selling of oleochemical products (vi) Investment holding (vii) Manufacturing and marketing of finished customer and industrial palm oil products (viii) Futures trading (ix) Developing, constructing, operating and maintaining power plant (x) Dormant (xi) Development, construction, fabrication and operation of a biomass conversion plant (xii) Aggregation of biomass, identification of the technology to convert palm-based biomass into High Value Green Chemicals/ Products and commercialisation of the technologies (xiii) Technical advisory services in agriculture sector (xiv) Rubber and oil palm plantation and sale of rubber and oil palm products _ The Group treated these entities as joint ventures as the shareholder agreements require unanimous consent over decisions about relevant activities among the partners. In the current financial year, the Group disposed of its 45.0% equity interest in Voray Holdings Limited for a total consideration of RM9.64 million, which resulted in a gain on disposal of RM12.62 million. The joint venture companies above are private companies and have no quoted market price available for their shares. There are no material contingent liabilities relating to the Group’s interest in the joint ventures. Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 271