FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 225 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 15 (LOSS)/PROFIT FROM DISCONTINUED OPERATIONS (i) Disposal of Twin Rivers Technologies Enterprises De Transformation De Graines Oleagineuses Du Quebec Inc. ("TRT ETGO") In the previous financial year, the Group disposed off Twin Rivers Technologies Enterprises De Transformation De Graines Oleagineuses Du Quebec Inc. ("TRT ETGO"), an indirect wholly-owned subsidiary of the Group for a total consideration of CAD172.15 million (RM567.1 million) which resulted in a gain on disposal of RM13.02 million (Note 22(c)(iii)). (ii) Cessation of Malaysia Cocoa Manufacturing Sdn. Bhd. In 2013, the Group approved a proposal to exit the cocoa business of its wholly-owned subsidiary company, Malaysia CocoaManufacturing Sdn. Bhd. ("MCM"). Operations ceased with effect from 1 September 2014 and certain property, plant and equipment were reclassified as assets held for sale. (iii) The results of the discontinued operations are as follows: 2016 RM'000 2015 RM'000 Revenue - 913,136 Cost of sales - (960,169) Gross loss - (47,033) Reversal of impairment loss on property, plant and equipment - 133,392 Other operating income 110 14,062 Administrative expenses (684) (11,792) Other operating expenses - (87) Other losses – net - (6,344) Finance costs (2,193) (7,556) Finance income 3 14 (Loss)/profit before taxation (2,764) 74,656 Taxation - (13) (Loss)/profit for the financial year (2,764) 74,643