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Notes To The
Financial Statements
As at 31 March 2019
15. Investments in subsidiaries (cont’d.)
(d) During the year, the Company has redeemed RM15.0 million (150 units) redeemable convertible loan stocks
from a subsidiary, FCB Plantation Holdings Sdn. Bhd..
(e) During the year, the Company has converted the remaining RM41.7 million (417 units) redeemable
convertible loan stocks issued by the following subsidiaries into redeemable convertible preference
shares:
RM’000
Gabungan Warisan Sdn. Bhd.
5,000
Cendana Laksana Sdn. Bhd.
30,100
Taka Worldwide Trading Sdn. Bhd.
3,900
Etika Gangsa Sdn. Bhd.
2,700
41,700
The dividend rate from redeemable convertible preference shares are not fixed, non-cumulative and
subject to shareholder’s approval.
(f) The Company has subscribed to another RM8.4 million redeemable convertible preference shares issued
by the following subsidiaries subsequent to conversion of redeemable convertible loan stocks in Note
15(e) above:
RM’000
Gabungan Warisan Sdn. Bhd.
500
Next Oasis Sdn. Bhd.
6,300
Taka Worldwide Trading Sdn. Bhd.
700
Etika Gangsa Sdn. Bhd.
900
8,400
(g) During the year, the Company has subscribed to RM35.4 million redeemable preference shares issued by
a subsidiary, Ladang Bunga Tanjong Sdn. Bhd.. The redeemable preference shares are carrying cumulative
dividend of 4.25% per annum with no fixed redemption period.
financial
statements
151