FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 282 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 28 AMOUNTS DUE FROM/(TO) A SIGNIFICANT SHAREHOLDER, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) In previous financial year, amounts due from a significant shareholder, joint ventures, an associate and other related companies of RM328,809,000 (1.1.2017: RM613,357,000) of the Group and amount due from a significant shareholder of RM20,000 (1.1.2017: RM20,000) of the Company are neither past due nor impaired as they have yet to exceed the credit period. The credit quality of related companies that are neither past due nor impaired can be assessed to historical information about counterparty default rates: Group Company 31.12.2017 RM’000 1.1.2017 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Amounts due from a significant shareholder Group 2 43,697 73,529 20 20 Amounts due from joint ventures Group 2 158,033 516,629 - - Amounts due from an associate Group 2 - 214 - - Amounts due from other related companies Group 2 127,079 22,985 - - Total unimpaired amounts from related parties 328,809 613,357 20 20 Group 1 - new related parties (less than 6 months) Group 2 - existing related parties (more than 6 months) with no defaults in the past. Group 3 - existing related parties (more than 6 months) with some defaults in the past. All defaults were fully recovered. The fair values of the amounts due from/(to) a significant shareholder, subsidiaries, joint ventures, an associate and other related companies approximated their respective carrying values, as the impact of discounting was not significant.