FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 174 FINANCIAL REPORT Group Company Note 2016 RM'000 2015 RM'000 (Restated) 2016 RM'000 2015 RM'000 NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (172,140) (1,569,279) 63,628 (504,628) Effect of foreign exchange rate changes 19,686 15,995 2,393 277 CASH AND CASH EQUIVALENTS AT BEGINNING OF FINANCIAL YEAR 2,008,539 3,561,823 13,176 517,527 Less: Reclassified to assets held for sale 36 (2,031) - - - CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR 35 1,854,054 2,008,539 79,197 13,176 The effect of the discontinued operations to the Statements of Cash Flows is as disclosed in Note 15 (iv). Significant non-cash transactions: (a) Financial year ended 31 December 2016 Company (i) On 21 October 2016, the Company subscribed for 225,000 ordinary shares of USD1.00 each from FGV Investment (L) Pte Ltd. ("FGVI"), a wholly owned subsidiary of the Company, by a conversion of an amount due from FGVI of USD225,000 equivalent to RM942,411. (ii) 23 November 2016, the Company redeem its RCPS of 526,000,000 preference shares at a nominal value of RM0.01 each and at a premium of RM0.99 each in Felda Global Ventures Downstream Sdn. Bhd. ("FGVD"), a wholly owned subsidiary of the Company, by a total redemption of RM526,000,000. (b) Financial year ended 31 December 2015 Company (i) On 28 April 2015, the Company subscribed for 28,268,328 ordinary shares of RM1.00 each from Felda Global Ventures Plantations Sdn. Bhd. ("FGVP"), a wholly owned subsidiary of the Company, by conversion of an amount due from FGVP of RM28,268,328. Subsequently, on 28 September 2015, the Company further subscribed for an additional 52,746,644 ordinary shares of RM1.00 each from FGVP, by conversion of an amount due from FGVP of RM52,746,644. (ii) On 26 May 2015, the Company received dividend income from Felda Global Ventures Perlis Sdn. Bhd. ("FGV Perlis"), a wholly owned subsidiary of the Company, by conversion of an amount due to FGV Perlis of RM99,222,916. (iii) On 7 September 2015, the Company subscribed for 111,332,252 ordinary shares of RM1.00 each from FeldaGlobal Ventures Downstream Sdn. Bhd. ("FGVD"), a wholly owned subsidiary of the Company, by conversion of an amount due from FGVD of RM111,332,252. STATEMENTS OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016