200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 15. Investment in subsidiaries (cont'd) (a) During the financial year: (i) (ii) (iii) (iv) (v) (b) In the previous financial year: (i) (ii) Kimlun Land Sdn. Bhd., a wholly-owned subsidiary of the Company, subscribed for new ordinary shares in Kii Tebrau Sdn. Bhd. for a total consideration of RM7 satisfied by cash. Kimlun Land Sdn. Bhd., subscribed for additional ordinary shares in Kiiville Sdn. Bhd. for a total consideration of RM1,649,999, satisfied by settlement of amount owing by Kiiville Sdn. Bhd.. The acquisition did not change the percentage of shareholdings effectively held by the Company. I-Buildtech Solutions Pte. Ltd., a wholly-owned subsidiary of the company had been struck off from the register pursuant to Section 344A of the Companies Act 1967 of Singapore and is accordingly dissolved. Kimlun Land Sdn. Bhd., subscribed for additional ordinary shares in Kii Ashbury Sdn. Bhd. for a total consideration of RM916,999 satisfied by cash and RM85,000 satisfied by settlement of amount owing by Kii Ashbury Sdn. Bhd.. The acquisition did not change the percentage of shareholdings effectively held by the Company. the Company subscribed for additional ordinary shares in Kii Amber Sdn. Bhd. for a total consideration of RM10,300,000 satisfied by cash. The subscription did not change the percentage of shareholdings effectively held by the Company. Kii Amber Sdn. Bhd., a wholly-owned subsidiary of the Company, paid RM10,170,440 out of the total subscription consideration of 9,800,000 ordinary shares in BDSB allotted in the previous financial year. The remaining balance of the Subscription Consideration is payable upon any call or calls by BDSB at any time and from time to time for such portion of the balance Subscription Consideration. the Company subscribed for additional ordinary shares in Kii Amber Sdn. Bhd., a wholly-owned subsidiary of the Company for a total consideration of RM23,150,000 satisfied by cash. Kii Amber Sdn. Bhd. utilised most of these proceeds to pay up the balance of the subscription consideration of 9,800,000 ordinary shares in Bayu Damai Sdn. Bhd. ("BDSB") allotted to Kii Amber Sdn. Bhd. (refer to Note 15 (b)(ii) below). The subscription did not change the percentage of shareholdings effectively held by the Company. - 51 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 121 Annual Report 2023
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