Tropicana Corporation Berhad Annual Report 2019

18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) (b) Impairment loss During the financial year, an impairment loss amounting to RM62,916,000 (2018: RM6,266,000) was recognised in the profit or loss of the Company as the recoverable amounts of certain subsidiaries were lower than their carrying amounts as at the reporting date. (c) Acquisition of Acquiree Companies The fair values of the identifiable assets and liabilities of Acquiree Companies as at the date of acquisition, 29 November 2019 were: 2019 Carrying Fair amount value RM’000 RM’000 Property, plant and equipment 3,336 3,336 Inventories 2,692,562 3,325,900 Deferred tax assets 14,059 14,059 Trade and other receivables 268,854 268,854 Cash and cash equivalents 14,877 14,877 Total assets 2,993,688 3,627,026 Deferred tax liabilities (176,262) (328,263) Borrowings (423,156) (423,156) Trade and other payables (1,852,748) (1,852,748) Contract liabilities (244,737) (244,737) Tax payables (1,684) (1,684) Total liabilities (2,698,587) (2,850,588) Net identifiable assets 295,101 776,438 2019 RM’000 Fair value of net identifiable assets 776,438 Less: Non-controlling interest measured at proportionate share of the acquiree’s identifiable net assets (237,701) Group’s interest in fair value of net identifiable assets 538,737 Gain on a bargain purchase (Note 6) (321,346) Total purchase consideration 217,391 Total purchase consideration is as follows: 2019 RM’000 127,043,000 ICPS issued at RM1.20 each 152,452 Deferred payment 64,939 Total purchase consideration 217,391 For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 194 About Tropicana Our Strategic Performance Our Leadership