Frontken Berhad Annual Report 2017

91 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2017 11. INVESTMENTS IN SUBSIDIARIES (CONT’D) The summarised financial information (before intra-group elimination) for each subsidiary that has non-controlling interests that are material to the Group is as follows:- (Cont’d) TTES 2017 2016 RM RM At 31 December Non-current assets 2,770,350 3,028,333 Current assets 7,636,730 10,615,226 Non-current liabilities (199,574) (319,732) Current liabilities (2,273,064) (5,508,708) Net assets 7,934,442 7,815,119 Financial Year Ended 31 December Revenue 15,396,296 28,366,528 Profit for the financial year 389,320 2,844,874 Total comprehensive income 389,320 2,844,874 Total comprehensive income attributable to non-controlling interests 214,126 1,564,681 Dividends paid to non-controlling interests (148,500) (907,500) Net cash from operating activities 1,543,746 4,307,661 Net cash for investing activities (1,858,768) (703,752) Net cash for financing activities (764,202) (2,087,527) During the financial year:- (i) In the month of June 2017, the Company acquired 3,891,229 ordinary shares of NT$10 each representing 11.43% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$93,675,619 (including incidental costs) (equivalent to RM13,273,927). Following the acquisition, the Group’s interest in AGTC increased from 73.22% to 84.65%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM95,753,364. The Group recognised a decrease in non-controlling interests of RM14,461,712 and an increase in retained earnings of RM1,187,785. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company: AGTC 2017 RM Equity interest at 1 January 2017 84,985,591 Effect of increase in Company’s ownership interest 14,461,712 Share of comprehensive income 14,908,909 Equity interest at 31 December 2017 114,356,212 Notes To The Financial Statements (cont’d)