FGV Audited Financial Statements 2020

38 ASSETS AND LIABILITIES HELD FOR SALE (ii) During the financial year, assets held for sale in relation to FGV Cambridge Nanosystems Limited and its subsidiary GasPlas AS (“FGV CNS Group”), indirect subsidiaries of the Company with carrying value of RM0.29 million had been disposed off for a total consideration of £8 million (approximately RM43.92 million), resulting in a net gain on disposal of RM31.52 million to the Group as follow: RM’000 Proceeds from disposal 43,922 Net assets held for sale derecognised (294) Derecognition of non-controlling interests (16,446) Gain on disposal 27,182 On the disposal of FGV CNS Group, the Group recognised a gain of RM4.34 million arising from realisation of foreign exchange reserve to profit or loss. (iii) In previous financial year, MSMH, a subsidiary of the Group, had approved the proposed disposal of nine (9) parcels of leasehold agricultural lands known as “Ladang Chuping” registered under MSM Perlis Sdn. Bhd., a subsidiary of MSMH, for a total proceed of RM156,000,000, which was expected to be completed in 2020. However, during the financial year, Ladang Chuping had not met the criteria required for the lands to be continued to be classified as asset held for sale, as the sales and purchase agreement was terminated. Consequently, the carrying value of the assets of RM154,851,000 had been reclassified to non-current assets. 39 SHARE CAPITAL Group and Company 2020 Number of shares ’000 2019 Number of shares ’000 2020 RM’000 2019 RM’000 Issued and fully paid up: Ordinary shares with no par value At 1 January/31 December 3,648,152 3,648,152 7,029,889 7,029,889 Special share At 1 January/ 31 December # # # # # Relating 1 unit special shares held by Minister of Finance of RM1 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regard to the Company’s residual assets. 158 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 FGV HOLDINGS BERHAD Audited Financial Statement 2020