Frontken Berhad Annual Report 2019

100 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 13. INVESTMENTS IN SUBSIDIARIES (CONT’D) In the previous financial year:- (i) In the month of January 2018, the Company acquired 1,313,116 ordinary shares of NT$10 each representing 3.85% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$39,393,480 (including incidental costs) (equivalent to RM5,490,245). Following the acquisition, the Group’s interest in AGTC increased from 84.65% to 88.50%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM113,090,059. The Group recognised a decrease in non-controlling interests of RM5,037,019 and a decrease in retained earnings of RM453,225. (ii) In the month of March 2018, the Company acquired 91,985 ordinary shares of NT$10 each representing 0.27% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$2,759,550 (equivalent to RM372,498). Following the acquisition, the Group’s interest in AGTC increased from 88.50% to 88.77%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM121,788,780. The Group recognised a decrease in non-controlling interests of RM364,477 and a decrease in retained earnings of RM8,021. (iii) In the month of November 2018, the Company acquired 278,298 ordinary shares of NT$10 each representing 0.82% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$9,353,279 (equivalent to RM1,270,339). Following the acquisition, the Group’s interest in AGTC increased from 88.77% to 89.59%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM131,297,655. The Group recognised a decrease in non-controlling interests of RM1,190,732 and a decrease in retained earnings of RM79,607. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company:- AGTC 2018 RM Equity interest at 1 January 2018 114,356,212 Effect of increase in Company’s ownership interest 6,592,228 Share of comprehensive income 14,103,895 Equity interest at 31 December 2018 135,052,335 14. INVESTMENT IN AN ASSOCIATE The Group 2019 2018 RM RM Unquoted shares, at cost - 1,193,279 Share of post-acquisition results - 309,291 Foreign currency translation differences - 562,232 - 2,064,802 Disposed during the year - (2,064,802) - - Notes To The Financial Statements (cont’d)