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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
22. Disposal group classified as held for sale (cont’d)
128
Disposal of disposal group classified as held for sale
On 22 June 2011, the Company disposed of its entire 76.91% interest in AOM, a company listed on Australian Securities
Exchange, comprising a total of 1,677,545,461 ordinary shares at A$0.0016 per share. Following the disposal, AOM ceased
to be a subsidiary of the Company and ACPL, an indirect subsidiary of the Company, also ceased to be a subsidiary of the
Company following the dilution of its effective interest from 53.07% to 30.0%.
On 2 November 2011, the Company disposed of its entire 30% interest in ACPL together with its indirect subsidiary, PT
Asiatic Coal Nusantara (“PT ACN”).
The disposal had the following effects on the financial position of the Group as at 31 December 2011:
Building on Success: Developing Resources for the Future
RM’000
Property, plant and equipment 63
Intangible assets 1,226
Deferred exploration and evaluation expenditure 9,442
Mining assets 12,863
Inventories 737
Other receivables 431
Prepayment 4
Cash and cash equivalents 202
Trade and other payables (9,811)
Provisions (160)
Deferred tax liabilities (3,216)
Non-controlling interests (4,058)
Transfer from foreign exchange reserve 3,263
10,986
Total disposal proceeds (10,732)
Loss on disposal to the Group (Note 11) 254
The cash inflow arising on disposal is as follows:
RM’000
Consideration settled in cash 10,732
Less: Cash and cash equivalents of subsidiaries disposed (202)
Net cash inflow on disposal 10,530
The disposal had the following effects on the financial position of the Company as at 31 December 2011:
RM’000
Non-current assets classified as held for sale:
Investment in subsidiary 21,147
Investment in associate 3,940
Impairment made during the year (Note 11) (810)
24,277
Total disposal proceeds (10,732)
Loss on disposal to the Company (Note 11) 13,545