FGV Audited Financial Statements 2020

24 INVESTMENT IN SUBSIDIARIES (CONTINUED) (e) Impairment on investment in subsidiaries in the previous financial year (i) FGV Sugar and MSMH In the previous financial year, the Company assessed the investments in FGV Sugar and MSMH for impairment, arising from the rationalisation exercise of the sugar business and the impairment of property, plant of equipment of one of the sugar business entity (Note 20). Based on the value in use assessments of FGV Sugar andMSMH, the recoverable amount were computed at RM838,079,000 RM196,190,000 respectively, resulting in impairment of RM263,086,000 in the Company’s investment in FGV Sugar and impairment of RM73,836,000 in the investment in MSMH. (f) Summarised financial information on subsidiaries with material non-controlling interests Set out below are the summarised financial information for each subsidiary that has non-controlling interests that are material to the Group (other subsidiaries that have non-controlling interests are individually not significant). Summarised statements of financial position MSM Malaysia Holdings Berhad Group FGV Palm Industries Sdn. Bhd. 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 Current Assets 797,291 958,100 1,201,889 1,325,256 Liabilities (613,752) (657,583) (375,421) (424,192) Total current net assets 183,539 300,517 826,468 901,064 Non-current Assets 1,972,989 2,023,084 1,155,124 1,265,398 Liabilities (579,581) (665,652) (277,773) (286,103) Total non-current net assets 1,393,408 1,357,432 877,351 979,295 Net assets 1,576,947 1,657,949 1,703,819 1,880,359 128 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 FGV HOLDINGS BERHAD Audited Financial Statement 2020