EXCEL FORCE MSC BERHAD Annual Report 2017

83 7. Investment in Subsidiary Companies (cont’d) (e) Disposal of subsidiary companies (cont’d) The analysis of disposal of subsidiary companies above are as follow: Group 2016 RM Property, plant and equipment 140,848 Product development costs 896,052 Receivables 432,869 Cash and bank balances 240,559 Payables (977,892) 732,436 Goodwill on consolidation 32,528 Non-controlling interests (351,164) Total net assets disposed off 413,800 Less: Total disposal proceeds (482,738) Gain on disposal of subsidiary companies 68,938 Total disposal proceeds 482,738 Cash and cash equivalents of subsidiary companies disposed (240,559) Net cash inflows from disposal 242,179 The disposal of subsidiary companies had the following effect on the financial results of the Company: Company 2016 RM Total disposal proceeds 482,738 Less: Cost of investment in subsidiary companies (436,000) Gain on disposal of subsidiary companies 46,738 Notes To The Financial Statements 31 December 2017 (cont’d)