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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
18. Investment in subsidiaries (cont’d)
122
Disposal of subsidiaries
(a) On 22 June 2011, the Company disposed of its entire 76.91% interest in AOM, a company listed on Australian Securities
Exchange, comprising a total of 1,677,545,461 ordinary shares at A$0.0016 per share. Following the disposal, AOM
ceased to be a subsidiary of the Company and ACPL, an indirect subsidiary of the Company, also ceased to be a
subsidiary of the Company following the dilution of its effective interest from 53.07% to 30.0%.
On 2 November 2011, the Company disposed of its entire 30% interest in ACPL together with its indirect subsidiary, PT
ACN.
The investments in AOM, ACPL and PT ACN were previously classified as held for sale (Note 22).
19. Investment in associates and jointly controlled entity
Investment in associates
Building on Success: Developing Resources for the Future
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
In Malaysia:
Unquoted shares, at cost 10,473 10,473 10,473 10,473
Share of post-acquisition reserves 10,676 9,834 – –
21,149 20,307 10,473 10,473
Outside Malaysia:
Quoted shares, at cost 116,610 116,610 116,610 116,610
Unquoted shares, at cost 18,431 18,431 18,431 18,431
135,041 135,041 135,041 135,041
Share of post-acquisition reserves (17,327) (15,154) – –
117,714 119,887 135,041 135,041
Accumulated impairment losses
Quoted shares (99,572) (93,130) (111,743) (103,064)
Unquoted shares (10,800) (8,800) (15,956) (13,981)
Investment in jointly controlled entity
7,342 17,957 7,342 17,996
28,491 38,264 17,815 28,469
In Malaysia:
Unquoted shares, at cost 44,421 44,421 44,421 44,421
Share of post-acquisition reserves 101,269 65,854 – –
145,690 110,275 44,421 44,421
Total investment in associates and jointly
controlled entity 174,181 148,539 62,236 72,890
Market value of quoted shares – outside Malaysia 4,867 13,546 4,867 13,546