117 / 158
page
115
FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
NOTES TO THE FINANCIAL
STATEMENTS 31 MARCH 2016
(contd.)
16. INVESTMENTS IN SUBSIDIARIES (CONTD.)
(a) Details of subsidiaries are as follows: (Contd.)
Proportion of
Name of
Country of ownership interest
Company
Incorporation 2016
2015 Principal Activities
%
%
Subsidiary of FCB Plantation
Holdings Sdn Bhd (Contd.)
PT Nunukan Jaya
Indonesia
80
80 Oil palm production and processing.
Lestari (ii)
R.N.E. Plantantion
Malaysia
70
-
Oil palm plantation.
Sdn. Bhd. (i)
Subsidiary of Next Oasis
Sdn Bhd
Taka Worldwide
Malaysia
89
89 Oil palm plantation.
Sdn. Bhd. (i)
Etika Gangsa
Malaysia
89
89 Oil palm plantation.
Sdn. Bhd. (i)
(i) Audited by Hanafiah Raslan & Mohamad, a member of Ernst & Young Global
(ii) Audited by member firms of Ernst & Young Global in Jakarta
(b) Acquisition of subsidiary
On 4 December 2015, FCB Plantation Holdings Sdn. Bhd. acquired 140,000 ordinary shares of RM1.00
each, representing 70% of the total issued and paid-up share capital of R.N.E. Plantation Sdn. Bhd.
which is a special purpose entity to hold a plantation land for a total cash consideration of RM4.2 million.