FORGING AHEAD - Tradewinds Plantation Berhad

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FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2010
10. INVESTMENT IN AN ASSOCIATE (continued)
Details of the associate in the previous financial year was as follows:
Country of Interest in equity
Name of company incorporation held by subsidiary Principal activity
2010 2009
% %
Hak JTOP Sdn. Bhd. Malaysia 100 40 Investment holding but
is currently dormant
In the previous financial years, the financial results of Hak JTOP Sdn. Bhd. (‘Hak JTOP’) had not been equity accounted due
to the unavailability of financial statements. The associate was inactive and the Directors were of the opinion that the effect
of the non-equity accounting of the share of results of Hak JTOP was not material to the financial statements of the Group
for the previous financial years.
On 9 June 2010, the Company’s wholly-owned subsidiary, Johore Tenggara Oil Palm Berhad (‘JTOP’), acquired the
remaining 60% equity interest in Hak JTOP for a cash consideration of RM3,200,000. Consequently, Hak JTOP became a
wholly-owned subsidiary of JTOP.
11. INVESTMENT IN A JOINTLY CONTROLLED ENTITY
TRADEWINDS PLANTATION BERHAD
Annual Report 2010
Group Company
2010 2009 2010 2009
RM’000 RM’000 RM’000 RM’000
Unquoted shares, at cost
- Ordinary shares 10,000 10,000 10,000 10,000
- Redeemable convertible preference shares (‘RCPS’) 5,000 5,000 5,000 5,000
15,000 15,000 15,000 15,000
Share of post-acquisition reserves (1,511) (2,777) - -
13,489 12,223 15,000 15,000