20 INVESTMENTS IN SUBSIDIARIES (CONTINUED)
A summary of the details of the net assets acquired and cash flows arising from the acquisitions during the financial year
are as follows:
Acquiree’s
carrying
amounts
RM’000
Provisional
fair value
RM’000
Crossborder group
Property, plant and equipment (Note 16)
80,000
80,000
Trade and other receivables
4,599
4,599
Deposits, bank and cash balance
3,179
3,179
Trade and other payables
(82,611)
(82,611)
Provisional fair value of net assets acquired
5,167
Goodwill on acquisition
–
Purchase consideration settled in cash
5,167
Less: Cash and cash equivalents of subsidiaries acquired
(3,179)
Cash outflow of the Group on acquisition
1,988
Transaction costs of RM719,000 has been recognised as an expense during the financial year.
292
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONTINUED)
