162 / 204
Notes to the
Financial Statements
As at 31 March 2020
Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
160
17. Investments in subsidiaries (cont’d.)
(d) During the year, the Company subscribed to RM16.1 million (161 units) redeemable preference shares issued by the following
subsidiaries:
RM’000
Gabungan Warisan Sdn. Bhd.
2,300
Cendana Laksana Sdn. Bhd.
1,900
Taka Worldwide Trading Sdn. Bhd.
1,700
Etika Gangsa Sdn. Bhd.
1,700
Ladang Bunga Tanjong Sdn. Bhd.
8,500
16,100
(e) The redeemable preference shares of Ladang Bunga Tanjong Sdn. Bhd. carries cumulative dividend of 4.25% per annum. The
other redeemable preference shares issued by the other subsidiaries carry non-cumulative dividend of 4.25% per annum. All
the redeemable preference shares issued by the subsidiaries have no fixed redemption period.
18. Investment in associate
Group
Company
2020
2019
2020
2019
RM’000
RM’000
RM’000
RM’000
Unquoted shares, at cost
10,000
10,000
10,000
10,000
Share of post acquisition results
23,237
21,274
-
-
33,237
31,274
10,000
10,000
Details of the associate, which is incorporated in Malaysia, are as follows:
Name of associate
Group’s effective interest
Principal activities
2020
2019
%
%
Giesecke & Devrient Malaysia Sdn. Bhd. *
20
20
Production and sale of bank notes
*
Audited by firm of auditors other than Ernst & Young PLT.
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 2019 have been used and appropriate
adjustments have been made for the effects of transactions between 31 December 2019 and 31 March 2020.
Summarised financial information in respect of G&D is set out below. The summarised financial information represents the amounts
in the financial statements of the associate and not the Group’s share of those amounts.