117 FINANCIAL STATEMENTS & OTHERS ENRA GROUP BERHAD ANNUAL REPORT 2023 Notes To The Financial Statements 31 March 2023 (Cont’d) 6. INVESTMENTS IN SUBSIDIARIES (CONT’D) (d) Changes in investment in subsidiaries during the previous financial year (Cont’d) Divestment of the entire issued share capital of ENRA Kimia Sdn Bhd (“ENRA Kimia”) and its subsidiaries (Cont’d) The proposed divestment of ENRA Kimia Group was completed on 30 November 2021 in accordance with the terms and conditions of the agreements. Profit attributable to the discontinued operations was as follows: Group 2022 RM’000 Results of discontinued operations Revenue 25,609 Expenses (24,801) Results from operating activities 808 Taxation (239) Results from operating activities, net of tax 569 Gain on sale of discontinued operations 19,588 Profit for the financial year 20,157 Details of the assets, liabilities and net cash inflow arising from the disposal of ENRA Kimia 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 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 Disposal 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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