ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 123 NOTES TO THE FINANCIAL STATEMENTS 31 March 2020 31. TAX EXPENSE (Cont’d) d. Tax on each component of other comprehensive income is as follows: Group Before tax RM’000 Tax effect RM’000 After tax RM’000 2020 Items that may be reclassified subsequently to profit or loss Foreign currency translations 343 - 343 2019 Items that may be reclassified subsequently to profit or loss Foreign currency translations (48) - (48) 32. DISCONTINUED OPERATIONS a. On 15 May 2017, the Company had entered into six (6) agreements to dispose of the Group’s property, plant and equipment, investment properties and the entire equity interests in Nautical Gold Sdn. Bhd. (“NGSB”), Evergreen Sprint Sdn. Bhd. (“ESSB”) and Essential Vista Sdn. Bhd. (“EVSB”) for a total cash consideration of RM85,149,000. The decision to dispose these investment properties and investment assets was caused by low net rental income and rental yields and the disposal will provide an avenue for the Group to realise substantial cash proceeds which is intended to be utilised for repayment of bank borrowings associated with these investment properties, defrayment of expenses relating to the disposal, investment in new businesses, project and acquisition, and to fund the working capital. b. An analysis of the results of the discontinued operations are as follows: Group Company 2020 RM’000 2019 RM’000 2020 RM’000 2019 RM’000 Revenue - 2,263 - 2,274 Cost of sales - (941) - (941) Gross profit - 1,322 - 1,333 Other income - 17 - 17 Expenses - (1,425) - (1,425) Finance costs - (393) - (393) Loss before taxation - (479) - (468) Taxation - - - - Loss for the financial year - (479) - (468)