ENRA Group Berhad | Annual Report 2022 113 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 6. INVESTMENTS IN SUBSIDIARIES (Cont’d) (c) Changes in investment in subsidiaries during the financial year (Cont’d) Divestment of the entire issued share capital of ENRA Kimia Sdn Bhd (“ENRA Kimia”) and its subsidiaries (Cont’d) Profit attributable to the discontinued operations was as follows: Group 2022 2021 RM’000 RM’000 Results of discontinued operations Revenue 25,609 57,497 Expenses (24,801) (53,157) Results from operating activities 808 4,340 Taxation (239) (822) Results from operating activities, net of tax 569 3,518 Gain on sale of discontinued operations 19,588 – Profit for the financial year 20,157 3,518 Details of the assets, liabilities and net cash inflow arising from the disposal of ENRA Kimia Sdn. Bhd. during the financial year ended 31 March 2022 are as follows: As at date of disposal Note RM’000 Assets/(Liabilities) disposed: Property, plant and equipment 4 18,181 Right-of-use assets 5(a) 2,701 Intangible assets 7 7,513 Contract assets 12 107 Contract cost 360 Trade and other receivables 7,998 Inventories 5,488 Cash and cash equivalents 7,535 Deferred tax liabilities 9 (457) Trade and other payables (3,464) Borrowing (14,363) Current tax liabilities (336) Lease liabilities 5(b)(ii) (1,420) Expenses relating to disposal of subsidiaries 569 Gain on disposal of subsidiaries 19,588 Purchase consideration 50,000 Payment of expenses relating to disposal of subsidiaries (569) Cash and cash equivalents disposed (7,535) Net inflow from disposal of subsidiaries 41,896
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