For FY2021, the Group declared a total dividend of 3.0 sen per share amounting to RM21.09 million and equivalent to 17% of the FY2021 net profit of RM125.35 million. In September 2021, we completed the sale of our wholly-owned subsidiary MSM Perlis Sdn Bhd for total proceeds of RM181.11 million. The disposal is part of the Group’s ongoing exercise to dispose of non-core assets, generating a gain of RM91.81 million, as mentioned above. The proceeds were partly use to reduce our gearing level by making additional repayments to term loan of RM100.00 million whilst the remaining proceeds was used to fund capital expenditure in our MSM Johor refinery and general working capital for the Group. The performance of MSM Perlis Sdn Bhd was classified as discontinued operations and a sum of RM85.52 million of the gain on disposal is recorded as part of this segment’s performance. SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 67
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