Eng - IOI Group

notestothefinancialstatements cont’d13 SUBSIDIARIES cont’dDuring the financial year under review, the Company acquired a 100% interest in Loders Croklaan B. V. and relatedassets from Unilever Group for a total cash consideration of EUR217.0 million (Note 34.1).The amounts due from and to subsidiaries represent outstanding amounts arising from inter-company sales andpurchases, advances and payments made on behalf of or by subsidiaries. These amounts are unsecured, bearinterest at rates ranging from 0% to 5.5% (2002 - 0% to 7.0%) per annum and have no fixed terms of repayment.14 ASSOCIATESIn RM’000GroupCompany2003 2002 2003 2002At costUnquoted shares 100,987 118,629 2,500 17,556Share of post acquisition results and reservesof associates 120,630 146,771 - -Goodwill on acquisition amortised - (2,572) - -Discount on acquisition amortised 9,762 8,635 - -130,392 152,834 - -Less: impairment losses - (13,000) - -Interest in associates (Note 14.1) 231,379 258,463 2,500 17,556Details of the associates are set out in Note 44.During the financial year under review, the Company completed the disposal of its 3,000,000 ordinary shares ofRM1.00 each in Kanzen Tetsu Sdn Bhd (“KTSB”), representing 30% interest of the issued and paid-up share capitalof KTSB, to FACB Industries Incorporated Berhad for a cash consideration of RM11.0 million. Total loss from thesaid disposal is RM4.1 million and RM4.0 million for the Group and Company respectively.During the financial year under review, Sakilan Desa Sdn Bhd (“SDSB”), a subsidiary of the Company, disposed of its3,000,000 ordinary shares of RM1.00 each in Minat Teguh Sdn Bhd (“MTSB”), representing 30% interest of theissued and paid-up share capital of MTSB to IJM Plantations Sdn Bhd, a wholly-owned subsidiary of IJMPlantations Berhad for a consideration of RM13.0 million. The consideration was satisfied with the issue of13,684,211 ordinary shares of RM1.00 each in IJM Plantations Berhad to SDSB at RM0.95 per share. Total gainfrom the said disposal is RM297,000 for the Group.IOI Corporation BerhadAnnual Report 2003162Amounts due from and to associates represent outstanding amounts arising from agency income, purchases andpayments made on behalf of or by associates which are unsecured, interest-free and have no fixed terms of repayment.