Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

128
Notes to the Financial Statements
For the fi nancial year ended 31 December 2011
19. Investments in subsidiaries (contd.)
(d) Disposals of subsidiaries
The Group disposed of its 71%, 51% and 100% equity interests in Kenanga Investors Berhad (formerly
known as CMS Trust Management Berhad), Citadelle Capital Sdn. Bhd. (formerly known as CMS Asset
Management Sdn. Bhd.) and I-Systems Network Sdn. Bhd. on 9 April 2010, 2 September 2010 and 20
December 2010 for a consideration of RM12,691,876, RM1 and RM2, respectively.
The disposals had the following effects on the fi nancial position of the Group as at the end of 2010:
Cahya Mata Sarawak Berhad
Up to
disposal
date
RM’000
Total assets 15,448
Total liabilities (1,510 )
Identifi able net assets 13,938
Less: Non-controlling interests (3,807 )
10,131
Total disposal proceeds (12,692 )
Gain on disposal of subsidiaries (Note 6) 2,561
Disposal proceeds settled by:
Cash 12,692
Cash infl ow arising on disposal:
Cash consideration 12,692
Cash and cash equivalents of subsidiaries disposed (11,947 )
Net cash infl ow from disposal of subsidiaries 745
20. Investments in associates
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Quoted shares in Malaysia, at cost 314,472 314,472 32,302 32,302
Less: Accumulated impairment losses (67,000 ) (67,000 ) - -
247,472 247,472 32,302 32,302
Redeemable preference shares, at cost 16,861 17,474 - -
Less: Accumulated impairment losses (722 ) - - -
16,139 17,474 - -
Unquoted shares, at cost 9,315 115 - -
272,926 265,061 32,302 32,302
Share of post-acquisition reserves 18,914 13,091 - -
291,840 278,152 32,302 32,302
Fair value of investments in associates
for which there is published price quotation 186,002 207,073 87,856 98,192