MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 227 Financial Statements 15. INVESTMENTS IN SUBSIDIARIES (CONT'D.) (a) Additional investments in subsidiaries (cont'd.) (ii) In the previous financial year (cont'd.) (b) The carrying amount and the fair values of the identifiable assets and liabilities of GKL as at the date of acquisition were as follows: At carrying amount RM'000 At fair value RM'000 Non-current finance lease receivables 8,183,332 8,146,865 Current assets 1,502,954 1,502,954 Current liabilities (4,547,757) (4,547,757) Net identifiable assets and liabilities 5,138,529 5,102,062 Less: Negative goodwill on acquisition (805,308) Less: Interest previously held and classified as joint venture (2,569,265) Purchase consideration 1,727,489 The effect of the acquisition on the Group's cash flows is as follows: RM'000 Purchase consideration satisfied in cash 1,727,489 Less: Cash and cash equivalents of subsidiary acquired (386,571) Net cash outflow on acquisition 1,340,918 Loss from remeasurement of previously held interest in the joint venture on the date of acquisition RM'000 Carrying amount of equity interests previously owned at the date of acquisition 2,569,265 Less: Fair value of equity interests previously owned at the date of acquisition (2,551,031) Loss from remeasurement of previously held interest in the joint venture 18,234