Annual Report 2012 - IOI Group

NOTES TO THEFINANCIAL STATEMENTS37. LIQUIDATION AND DISPOSALS OF SUBSIDIARIES (Continued)37.1 Liquidation of subsidiaries (Continued)37.1.3 Loders Croklaan For Trading and Distribution LLC (“LC for Trading and Distribution”)During the previous financial year, the Group completed the liquidation of a subsidiary, LC for Trading andDistribution and the impact was summarised as follows:RM’000Net proceeds from liquidation –Group share of net assets liquidated (415)Loss on liquidation of a subsidiary (415)37.2 Disposals of subsidiaries2011During the previous financial year, the Group disposed the following subsidiary:Note Cash inflow on disposal Gain on disposalGroup and CompanyRM’000GroupRM’000CompanyRM’000Projects IOI (Mauritius) Ltd 37.2.1 9,680 4,602 4,60237.2.1 Projects IOI (Mauritius) Ltd (“Projects IOI (Mauritius)”)During the previous financial year, the Company completed the disposal of a subsidiary, Projects IOI (Mauritius) andthe impact was summarised as follows:RM’000Net proceeds from disposal 9,680Group share of net assets disposed (5,078)Gain on disposal of a subsidiary 4,602The disposal of the subsidiary had no material impact to the results of the Group in the previous financial year.208IOI CORPORATION BERHADAnnual Report 2012