ENRA Group Berhad | Annual Report 2022 114 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) The gain on disposal of subsidiaries of the Group during the financial year is as follows: Group 2022 RM’000 Total disposal proceeds 50,000 Carrying amount of ENRA Kimia’s net asset at disposal date (29,843) Expenses relating to disposal of subsidiaries (569) Gain on disposal of the subsidiaries 19,588 (d) Changes in investment in subsidiaries during the previous financial year (i) Internal restructuring of ENRA Icon Sdn Bhd (“EICON”) On 19 October 2020, the Company made an internal restructuring involving a transfer of 100% shares in EICON held by ENRA Oil & Gas Services Sdn. Bhd. (“EOGS”) to Enra Land Sdn. Bhd. (“Eland”) for a total cash consideration of RM100,000. EICON subsequently changed its name to Hamptons Homes Sdn. Bhd. (“HHSB”) on 23 October 2020. (ii) Termination of Shareholders' Agreements in relation to investment in ENRA Nauticawt Sdn. Bhd. (“ENSB”) and subsequent internal restructuring On 21 October 2020, EOGS has entered into a Deed of Termination with AWT International (Decommissioning) Sdn. Bhd. (“AWT”) to mutually rescind and terminate the Shareholders' Agreement dated 26 February 2016. Following this, EOGS has acquired the balance 49% shares in ENSB from AWT for a cash consideration of RM54,033. ENSB effectively became a wholly owned subsidiary of EOGS from 26 October 2020, being the date when the transfer of shares was completed. On 2 November 2020, EOGS made a transfer of its 100% shares in ENSB to ENRA Kimia for a total cash consideration of RM105,033. ENSB subsequently changed its name to ENRA Downstream Services Sdn. Bhd. on 8 December 2020. (iii) Internal restructuring of ENRA Energy Solution Sdn. Bhd. (“EESSB”) On 7 January 2021, the Company made an internal restructuring involving a transfer of 100% shares in EESSB to ENRA Energy Sdn Bhd. (“EESB”) for a total consideration of RM5,001,000 in form of equity contribution to EESB.
RkJQdWJsaXNoZXIy NDgzMzc=