FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 267 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 22 INVESTMENT IN SUBSIDIARIES (CONTINUED) (c) Incorporation, acquisitions and disposal of subsidiaries in previous financial year (continued) (i) The effects of the acquisition of FGVCO is as follows: (continued) The cash outflow on acquisition is as follows: RM'000 Consideration paid 181,338 Less : Cash and cash equivalents acquired (1,811) 179,527 Less: Deposit paid in 2014 (86,624) Net cash outflow on acquisition 92,903 The goodwill on acquisition is as follows: RM'000 Purchase consideration 191,220 Fair value of net assets acquired (191,220) Goodwill on acquisition - The effects of the acquisition of FGVCO on the financial results of the Group in previous financial year is shown below: RM'000 Revenue 289,698 Cost of sales (296,894) Gross loss (7,196) Other operating income 672 Selling and distribution costs (4,134) Administrative expenses (14,884) Finance costs (3,123) Loss before taxation (28,665) Taxation (829) Loss after taxation (29,494)