Tropicana Corporation Berhad Annual Report 2019

18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) (c) Acquisition of Acquiree Companies (cont’d.) The effect of the acquisition on cash flow is as follows: 2019 RM’000 Cash and cash equivalents of subsidiaries acquired 14,877 Less: consideration settled in cash – Net cash inflow on acquisition 14,877 (d) Acquisition of TSanc Holdings and TSanc Development On 12 October 2018, the Group acquired 50.1% of the total paid-up capital in TSanc Holdings. TSanc Holdings has a 70% owned subsidiary, namely TSanc Development. The Group has elected to measure the non-controlling interests at the proportionate share of the acquiree’s identifiable net assets. The fair values of the identifiable assets and liabilities of the proposed acquisitions as at the date of acquisition were: 2018 Carrying Fair amount value RM’000 RM’000 Assets Non-current asset Inventories 334,209 645,000 334,209 645,000 Current assets Trade and other receivables 159 159 Tax recoverable 1 1 Cash and bank balances 7,796 7,796 7,956 7,956 Total assets 342,165 652,956 pg 195 Tropicana Corporation Berhad Annual Report 2019 Sustainability at Tropicana What We’ve Governed Financial Statements & Other Information