209 MISC BERHAD Annual Report 2015 14. Intangible assets (cont’d.) Impairment test for goodwill (cont’d.) (c) Key assumptions used in value-in-use calculations (cont’d.) Other Energy Businesses (cont’d.) Key assumptions used in MOMPL’s value-in-use calculations The recoverable amount of the CGU is determined based on value-in-use calculations using cash flow projections for the remaining charter contract period and the estimated residual value of the assets. The applied discount rate is based on the pre-tax weighted average cost of capital determined by the management. It is the benchmark used by the management to assess operating performance and to evaluate future investments. Based on these calculations, an impairment loss was recognised to write down the entire carrying amount of goodwill for MOMPL of RM42,467,000. 15. Investments in subsidiaries Corporation 2015 2014 RM’000 RM’000 At 1 January 9,228,364 9,278,447 Additional investments in subsidiaries (Note a) 54,111 – Liquidation of a subsidiary (Note b) (57,221) – Impairment of investment in unquoted subsidiaries (Note c) (375,657) (36,413) Currency translation differences 2,430,892 (13,670) At 31 December 11,280,489 9,228,364 Quoted shares 277,625 225,934 Unquoted shares 11,002,864 9,002,430 11,280,489 9,228,364 Included in unquoted shares are preference shares of RM8,486,575,000 (2014: RM6,549,843,000) which bear interest ranging from 5.00% to 6.00% (2014: 5.00% to 6.00%) per annum.
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