BIMB Integrated Annual Report 2017

14. INVESTMENTS IN SUBSIDIARIES (CONTINUED) Disposal of a subsidiary The Group, via its subsidiaries, P.T. Syarikat Takaful Indonesia and P.T. Asuransi Takaful Keluarga, had entered into share sale agreements in October 2017 to dispose off its entire equity interest in ATU for a total consideration of RM2,100,000 (Rp7,000,000,000). The disposal was completed during the financial year. Details of net assets disposed and cash flows arising from the disposal are as follows: 2017 TAKAFUL GENERAL OPERATOR TAKAFUL GROUP RM’000 RM’000 RM’000 As at 31 December Property, plant and equipment 434 – 434 Other Investments 941 4,204 5,145 Retakaful assets – 1,464 1,464 Loans and receivables, excluding takaful receivables 4,263 427 4,690 Takaful receivables – 1,301 1,301 Cash and cash equivalents 838 12,291 13,129 Takaful contract liabilities – (15,352) (15,352) Takaful payables – (21) (21) Other payables (623) (4,314) (4,937) Tax payable (50) – (50) Net assets disposed 5,803 – 5,803 Cash consideration received 2,100 – 2,100 Net assets disposed (4,496) – (4,496) Loss on disposal of subsidiary (2,396) – (2,396) Net cash outflows arising from disposal of subsidiary are as follows: 2017 RM’000 Disposal proceeds discharged by cash 2,100 Cash and cash equivalents of subsidiary disposed (13,129) Net cash outflows (11,029) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 206 BIMB HOLDINGS BERHAD Integrated Annual Report 2017