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Annual Report 2013
KPJ HEALTHCARE BERHAD
214
16.
Investments in subsidiaries (continued)
(a)
Acquisition of subsidiaries in 2013: (continued)
The effect of the acquisitions on the nancial results of the Group in the current nancial year is as follows:
2013
RM’000
Revenue
23,836
Operating costs
(14,413)
Pro t before tax
1,651
Income tax expense
(238)
Pro t for the nancial year
1,413
Had the acquisitions took effect at the beginning of the nancial year, the revenue and pro t of the Group would have been
RM30,662,694 and RM1,311,725 respectively. These amounts have been calculated using the Group’s accounting policies and by
adjusting the results of the subsidiaries to re ect the additional depreciation and amortisation that would have been charged
assuming the fair value adjustments to property, plant and equipment had applied from 1 January 2013, together with the
consequential tax effect.
The net assets recognised in the 31 December 2013 nancial statements were based on provisional assessments of fair value while
the Group sought independent valuations for the acquisitions during the year.
The details of net assets acquired and cash ows arising from the acquisitions of the following signi cant subsidiaries are as
follows:
Acquiree’s
carrying
amounts
Fair value
PT Khidmat Perawatan Jasa Medika
RM’000
RM’000
Property, plant and equipment
2,382
2,382
Receivables, deposits and prepayments
4,352
4,352
Deposits, cash and bank balances
9,621
9,621
Payables
(1,119)
(1,119)
Income tax payable
(11)
(11)
Fair value of net assets acquired
15,225
15,225
Goodwill on acquisition
615
Purchase consideration settled in cash
15,840
Less: Cash and cash equivalents of subsidiaries acquired
(9,621)
Cash out ow of the Group on acquisition
6,219
Notes to the
Financial Statements
For the financial year ended 31 December 2013
(continued)