FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 304 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 46 LOANS DUE TO A SIGNIFICANT SHAREHOLDER (CONTINUED) The carrying amount and fair value of the loans due to a significant shareholder are as follows: Group and Company Carrying amount Fair value 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Loans due to a significant shareholder 1,159,103 1,387,316 1,689,005 1,158,489 1,385,888 1,702,544 The fair value of loans due to a significant shareholder is based on cash flows discounted using a rate based on the borrowing rate of 4.50% (31.12.2017: 4.98%; 1.1.2017: 4.66%). The fair value of the loans due to a significant shareholder is a Level 2 computation. Cash flows and non-cash changes arising from loans due to a significant shareholder financing activities are disclosed in statements of cash flows. 47 LOANS DUE TO SUBSIDIARIES Company 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Unsecured: - Non-current 845,985 667,669 252,109 - Current 258,924 435,090 48,896 1,104,909 1,102,759 301,005 The loans are denominated as follows: - Ringgit Malaysia 1,104,909 1,074,706 272,110 - Canadian Dollar - 28,053 28,895 1,104,909 1,102,759 301,005 During the financial year, a subsidiary of the Company, has agreed to waive the loan due to the subsidiary, amounting to RM28,053,000.