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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
NOTES TO THE FINANCIAL
STATEMENTS 31 MARCH 2016
(contd.)
17. INVESTMENTS IN ASSOCIATES (CONTD.)
Details of the associates, which are all incorporated in Malaysia, are as follows:
Group’s effective interest
Name of Associates
2016
2015
Principal Activities
%
%
KadKash Sdn. Bhd.
-
40
Dormant
Giesecke and Devrient
20
20
Production and sale of
Malaysia Sdn. Bhd. (i)
bank notes
(i) Audited by a firm other than Hanafiah Raslan and Mohamad
On 20 January 2016, the High Court of Malaya at Kuala Lumpur ordered that Kadkash Sdn Bhd to be
dissolved pursuant to Section 239 of the Companies Act 1965.
The financial statements of Giesecke & Devrient Malaysia Sdn Bhd (“G&D”) is not coterminous with
those of the Group as G&D has a financial year end of 31 December to conform with its holding
company’s financial year end. For the purpose of applying the equity method of accounting, the financial
statements of G&D for the year ended 31 December 2015 have been used and appropriate adjustments
have been made for the effects of transactions between 31 December 2015 and 31 March 2016.
Summarised financial information in respect of Giesecke & Devrient Malaysia Sdn. Bhd. is set out
below. The summarised financial information represents the amounts in the financial statements of the
associates and not the Group’s share of those amounts.
(i) Summarised statement of financial position
2016
2015
RM’000
RM’000
Assets and liabilities
Current assets
74,090
67,343
Non-current assets
195,456
195,892
Total assets
269,546
263,235
Current liabilities
44,377
37,739
Non-current liabilities
23,976
32,060
Total liabilities
68,353
69,799
Net assets
201,193
193,436