Tropicana Corporation Berhad Annual Report 2019

18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) (d) Acquisition of TSanc Holdings and TSanc Development (cont’d.) The fair values of the identifiable assets and liabilities of the proposed acquisitions as at the date of acquisition were: (cont’d.) 2018 Carrying Fair amount value RM’000 RM’000 Non-current liabilities Deferred tax liability 63,471 138,061 Borrowings 88,192 88,192 151,663 226,253 Current liabilities Borrowings 54,296 54,296 Trade and other payables 242,770 242,770 297,066 297,066 Total liabilities 448,729 523,319 Net identifiable (liabilities)/assets (106,564) 129,637 2018 RM’000 Fair value of net identifiable assets 129,637 Less: Non-controlling interest measured at proportionate share of the acquiree’s identifiable net assets (64,689) Group’s interest in fair value of net identifiable assets 64,948 Gain on a bargain purchase (Note 6) (15,911) Total purchase consideration 49,037 The effect of the acquisition on cash flow is as follow: Deferred payment 49,037 Less: Cash and cash equivalents of subsidiaries acquired (7,796) Net cash outflow on acquisition 41,241 For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 196 About Tropicana Our Strategic Performance Our Leadership