Chemical Company of Malaysia Berhad Annual Report 2018

8. OTHER INVESTMENTS Group Company 2018 2017 2018 2017 Non-current shares Available-for-sale – 45,568 – 45,414 – 45,568 – 45,414 8.1 Equity investments designated at fair value through other comprehensive income At 1 January 2018, the Group designated the investments shown below as equity securities as at fair value through other comprehensive income because these equity securities represent investments that the Group intends to hold for long-term strategic purposes. As at 31 December 2018, these investments have been reclassified as assets held for sale (Note 13). In 2017, these investments were classified as available-for-sale. Dividend Fair value at income 31 December recognised 2018 during 2018 Group Shares quoted in Malaysia, reclassified as assets held for sale (Note 13) 186 6 8.2 Disposal of other investments In 2014, the Group and the Company acquired a 13.86% equity interest in PanGen Biotech Inc. (“PanGen”) for a total cash consideration of KRW5 billion or equivalent to RM15,740,000. On 11 March 2016, PanGen was listed on Korean Securities Dealers Automated Quotations (“KOSDAQ”). Pursuant to the listing, the Group and the Company have an effective interest of 9.34% in PanGen. During the year, the Group and the Company have fully disposed their entire interest in PanGen (see Note 32). In the previous financial year, pursuant to the demerger of Duopharma Biotech Berhad (“DBB”) (formerly known as CCM Duopharma Biotech Berhad), the Company distributed its interest in DBB shares to the shareholders of the Company by the way of a reduction of the paid up capital of the Company. The distribution led to some DBB shares left undistributed and these shares were disposed during the year. The Group and the Company disposed the above investments which were carried at fair value through other comprehensive income because they were no longer in line with the Group’s strategy. Dividend Cumulative income Fair value at gain recognised derecognition on disposal during 2018 Group and Company PanGen 59,156 43,416 – DBB 279 279 5 149 CHEMICAL COMPANY OF MALAYSIA BERHAD