118 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 gain on disposal of subsidiaries of the Group in the previous 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 (e) The details of the subsidiaries are as follows: Country of incorporate/ Effective interest Principal in equity place 2023 2022 Name of company of business % % Principal activities ENRA Labuan Sdn. Bhd. Malaysia 100 100 Property development ENRA Land Sdn. Bhd. Malaysia 100 100 Investment holding ENRA Energy Sdn. Bhd. Malaysia 100 100 Investment holding ENRA Engineering & Malaysia 100 100 Investment holding Construction Sdn. Bhd. ENRA IOL Sdn. Bhd. Malaysia 51 - Business of supplying and installing energy saving lighting products Subsidiaries of ENRA Energy Sdn. Bhd. ENRA Oil & Gas Malaysia 100 100 Provision of project management Services Sdn. Bhd. of engineering, procurement, construction and commissioning and decommissioning for multi-discipline in oil & gas industries ENRA Energy Malaysia - 100 Provision of upstream and Solutions Sdn. Bhd. midstream infrastructure technology solution to the oil and gas industry
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