Frontken Berhad Annual Report 2019

99 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 13. 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 2019 2018 RM RM At 31 December Non-current assets 1,878,463 2,696,260 Current assets 11,277,366 7,860,708 Non-current liabilities (366,866) (104,507) Current liabilities (4,116,002) (2,262,508) Net assets 8,672,961 8,189,953 Financial Year Ended 31 December Revenue 24,711,266 17,125,230 Profit for the financial year 1,143,214 639,512 Total comprehensive income 1,143,214 639,512 Total comprehensive income attributable to non-controlling interests 628,768 351,732 Dividends paid to non-controlling interests (363,000) (211,200) Net cash from/(for) operating activities 2,824,006 (821,816) Net cash from investing activities 79,184 1,594,276 Net cash for financing activities (1,319,472) (378,522) During the financial year, in the month of September 2019, the Company acquired 431,534 ordinary shares of NT$10 each representing 1.26% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$19,355,830 (including incidental costs) (equivalent to RM2,636,981). Following the acquisition, the Group’s interest in AGTC increased from 89.59% to 90.85%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM159,622,107. The Group recognised a decrease in non-controlling interests of RM2,193,924 and a decrease in retained earnings of RM443,057. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company:- AGTC 2019 RM Equity interest at 1 January 2019 135,052,335 Effect of increase in Company’s ownership interest 2,193,924 Share of comprehensive income 37,299,613 Equity interest at 31 December 2019 174,545,872 Notes To The Financial Statements (cont’d)