Asia Media Annual Report 2018

100 | P a g e 12. NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE On 22 December 2017, the Company entered into a Shares Sales Agreement (“SSA”) with DPO Holdings Pte. Ltd. to dispose the entire equity shares in DPO Plantation Sdn. Bhd. of 5,000,000 ordinary shares for the consideration of RM4,000,000/-. The disposal completed on 30 June 2018. In previous financial year, the conditions precedent as set out in the SSA have yet to be fulfilled. 13. DISPOSAL GROUP HELD FOR SALE In previous financial year, the assets and liabilities of DPO Plantation Sdn. Bhd. have been presented on the statements of financial position as a disposal group held for sale and its results is presented separately on the statements of comprehensive income as “Loss on discontinued operation, net of tax”. Statement of financial position disclosures Group 2017 RM Assets Property, plant and equipment 4,594,084 Inventories 59,156 Other receivables 89,632 Cash and bank balances 143,506 Assets included in disposal group classified as held for sale 4,886,378 Liabilities Other payables 81,550 Amount due to Directors 188,458 Liabilities included in disposal group classified as held for sale 270,008 Net assest held for sale 4,616,370