Annual Report 2012 - IOI Group

NOTES TO THEFINANCIAL STATEMENTS18. GOODWILL ON CONSOLIDATION (Continued)18.1 Disposal of product linesDuring the previous financial year, the Group divested three product lines from the Lipid Nutrition unit, and the impact wassummarised as follows:RM’000Net assets disposed 6,201Goodwill allocated 1,563Group share of net assets disposed 7,764Less: Proceeds from disposal of product lines (25,888)Gain on disposal of product lines (18,124)19. SUBSIDIARIES19.1 Investments in subsidiaries2012RM’000Company2011RM’000At costUnquoted shares in Malaysia 5,605,521 5,508,255Unquoted shares outside Malaysia 2,356,612 881,9637,962,133 6,390,218Less: Accumulated impairment losses (5,619) (5,619)7,956,514 6,384,599Details of the subsidiaries are set out in Note 46 to the financial statements.2012During the financial year, the Company:i. acquired 79,700 ordinary shares of RM0.50 each in IOI Properties Berhad (“IOIP”) (“IOIP Shares”) at an average price ofRM3.33 per IOIP Shares with cash payments of RM265,580. The acquisitions have no material impact to the Groupfinancial statements.ii.iii.subscribed for an additional 2,500,000 ordinary shares of RM1.00 each in IOI Management Sdn Bhd at par value. Theconsideration for the subscription was settled by offsetting the amount due from IOI Management Sdn Bhd to theCompany.received RM4,265 upon liquidation of a subsidiary, Tampoi Development Sdn Bhd. Total gain recognised from theliquidation is RM4,263.174IOI CORPORATION BERHADAnnual Report 2012