FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 269 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) (iii) On 3 November 2015, FGVD disposed Twin Rivers Technologies Enterprises De Transformation De Graines Oleagineuses Du Quebec Inc. ("TRT ETGO"), its wholly-owned subsidiary, for a total consideration of CAD172.15 million (RM567.11 million), which resulted in a gain on disposal of RM13.02 million. The effects of the disposal of TRT ETGO on the financial position of the Group as at previous financial year end is as follows: RM'000 Property, plant and equipment 561,584 Intangible assets 497 Inventories 195,735 Trade and other receivables 87,598 Deferred tax assets 18,721 Cash and cash equivalents 18,874 Payables (115,851) Derivatives financial liabilities (6,670) Borrowings (244,336) Net assets disposed 516,152 Realisation of foreign exchange 37,945 Gain on disposal 13,016 Proceeds from disposal, net of transaction costs 567,113 The cash inflow on disposal is as follows: Proceeds from disposal, net of transaction costs 567,113 Less: Cash and cash equivalents (18,874) Net cash inflow from disposal 548,239