FGV Audited Financial Statements 2020

29 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) Amounts due from subsidiaries Company 2020 RM’000 2019 RM’000 At 1 January 1,074,468 722,222 Net movement during the financial year (295,895) 364,610 Decrease/(increase) in loss allowance during the financial year 813 (4,246) Conversion into ordinary shares # (Note 24) (3,493) (8,118) At 31 December 775,893 1,074,468 Analysed as: Non-current 659,455 634,340 Current 116,438 440,128 775,893 1,074,468 Financial year ended 31.12.2020 # On 16 April 2020, the Company subscribed for 442,455 ordinary shares of USD1.00 each from FGV Investment (L) Pte. Ltd. (“FGVI”), a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD442,455, equivalent to RM1,878,000. # On 2 July 2020, the Company subscribed for 158,317 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD158,317, equivalent to RM672,000. # On 8 October 2020, the Company subscribed for 142,913 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD142,913, equivalent to RM607,000. # On 16 April 2020, the Company subscribed for 79,158 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD79,158, equivalent to RM336,000. Financial year ended 31.12.2019 # On 13 December 2019, the Company subscribed for 1,952,128 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD1,952,128, equivalent to RM8,118,000. 147 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 Audited Financial Statements 2020