EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 87 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CONT’D) 9. INVESTMENT IN SUBSIDIARY COMPANIES (CONT’D) The following summarises the major classes of consideration transferred, and the recognised amounts of assets acquired and liabilities assumed at the acquisition date: 2020 RM Fair value of consideration transferred Cash consideration 2 Fair value of identifiable assets acquired and liabilities assumed Property, plant and equipment 9,438 Other receivables 5,716 Cash in hand 2 Other payables (138,659) (123,503) Net cash outflow arising from acquisition of a subsidiary company Purchase consideration settled in cash (2) Cash and cash equivalents acquired 2 - Goodwill arising from business combination Fair value of consideration transferred 2 Fair value of identifiable assets acquired and liabilities assumed (123,503) Goodwill 123,505 The goodwill arising from consolidation has been written off during the financial year. Impact of the acquisition on the Statements of Profit or Loss and Other Comprehensive Income From the date of acquisition, the acquired subsidiary company has not contribute to the Group’s revenue and profit for the financial year. There was no acquisition in the previous financial year. 10. OTHER INVESTMENTS Group and Company 2020 2019 RM RM Non-current Financial assets measured at fair value through other comprehensive income Quoted shares 13,042,200 13,703,850 The fair value of the listed equity securities was determined by reference to the quoted price in an active market.