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Notes To The
Financial Statements
As at 31 March 2019
18. Biological assets
Group
2019
2018
RM’000
RM’000
(Restated)
At 1 April 2018/2017
2,145
3,321
Fair value changes recognised in profit or loss (Note 6)
(1,272)
(791)
Exchange differences
146
(385)
At 31 March
1,019
2,145
Biological assets represents the fresh fruit bunches (“FFB”) of up to 15 days prior to harvest for use in the Group’s
palm product operations. During the financial year ended 31 March 2019, the Group harvested approximately
166,080 metric tonnes (“MT”) of FFB (2018: 175,774 MT). The quantity of unharvested FFB of the Group as at
31 March 2019 included in the fair valuation of FFB was 6,101 MT (2018: 6,433 MT).
In arriving at the fair value, the Group adopted the income approach which considers the net present value of
all directly attributable cash inflows, cash outflows and imputed contributory asset charges where no actual
cash flows associated with the use of assets essential to the agricultural activity. Changes to the assumed prices
of the FFB and tonnage included in the valuation will have a direct effect on the reported valuation.
The Groups biological assets computation is a Level 3 fair value estimation.
If the selling prices of FFB or tonnage changed by 10%, the Group’s fair value changes in FFB would have
increased or decreased by approximately RM210,000 (2018: RM299,000).
19. Inventories
Group
2019
2018
RM’000
RM’000
At cost:
Work-in-progress
33,082
16,539
Oil palm products
10,957
8,432
Printing materials
11,135
8,910
Fertilizer
3,476
815
Consumables
4,666
4,161
63,316
38,857
During the year, the amount of inventories recognised as an expense in cost of sales of the Group was
RM91,689,000 (2018: RM102,923,000).
158
Fima Corporation Berhad
(21185-P)
Annual Report 2019