Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 121 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 13. INVESTMENTS IN SUBSIDIARIES (CONT’D) During the financial year, in the month of June 2023, the Company acquired 10,300 ordinary shares of NT$10 each representing 0.03% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$1,854,000 (including incidental costs) (equivalent to RM279,113). Following the acquisition, the Group’s interest in AGTC increased from 92.50% to 92.53%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM459,227,189. The Group recognised a decrease in non-controlling interests of RM148,939 and a decrease in retained earnings of RM130,174. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company: AGTC 2023 RM Equity interest at 1 January 2023 402,233,531 Effect of increase in Company’s ownership interest 148,939 Share of comprehensive income 72,982,423 Equity interest at 31 December 2023 475,364,893 In the previous financial year, in the month of January 2022, the Company acquired 240,857 ordinary shares of NT$10 each representing 0.71% of the issued and paid-up share capital of AGTC for a total cash consideration of NT$31,311,410 (including incidental costs) (equivalent to RM4,739,381). Following the acquisition, the Group’s interest in AGTC increased from 91.79% to 92.50%. The carrying amount of AGTC’s net assets shared by the Group on the date of the acquisition was RM322,615,634. The Group recognised a decrease in non-controlling interests of RM2,495,447 and a decrease in retained earnings of RM2,243,934. The following summarises the effect of changes in equity interest in AGTC that is attributable to owners of the Company: AGTC 2022 RM Equity interest at 1 January 2022 322,615,634 Effect of increase in Company’s ownership interest 2,495,447 Share of comprehensive income 77,122,450 Equity interest at 31 December 2022 402,233,531
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