Connecting the nation. and Beyond. - ChartNexus

21 SUBSIDIARIES
/ MRCB laporan tahunan 2011 / 219
Company
2011 2010
RM’000 RM’000
Unquoted shares at cost in Malaysia 799,050 1,016,075
Less: Accumulated impairment losses
- At start of financial year (240,102) (236,731)
- Charge for the financial year (94,306) (3,371)
- Write off upon member’s voluntary liquidation 137,813 –
(196,595) (240,102)
602,455 775,973
Loan stocks at cost 19,923 17,333
Less: Accumulated impairment losses
- At 31 December (17,333) (17,333)
2,590 –
605,045 775,973
The loan stocks issued by a subsidiary pursuant to a Joint Venture Agreement dated 18 April 1996 was due for redemption
on 1 January 2002 at 100% of its nominal value for all loan stocks not previously redeemed or purchased together with
all accrued interest thereon. The joint venture parties have consented to extend the redemption to 31 December 2016, or
within 6 months from the completion of joint venture project, whichever shall be earlier under the Supplemental Joint
Venture Agreement dated 19 February 2003.
Included in the cost of investment in unquoted shares as at 31 December 2010 was RM195,810,779 being the Junior Sukuk
issued by a subsidiary which was fully subscribed by the Company (Note 35). The Junior Sukuk was disposed off by the
Company on 30 September 2011.
The Group’s effective equity interest in the subsidiaries, their respective principal activities and country of incorporation
are set out in Note 46 to the financial statements.