NOTES TO THE FINANCIAL STATEMENTS Registration No. 200301030845 (633265-K) - 85 - 6. Investment in Subsidiaries (Cont’d) (c) Disposal of subsidiaries During the financial period (i) On 11 June 2024, the Company has disposed of 100,000 ordinary shares in Destini HRTC Sdn. Bhd. (“DHSB”), a direct subsidiary of the Company, representing 100% of equity interest in DHSB to Mohamad Najib Bin Mohd Ali for a cash consideration of RM1. The effect of the disposal of DHSB on the financial position of the Group as at the date of disposal was as follow: Group 30.6.2024 RM Property, plant and equipment 12 Other receivables 71 Cash and bank balances 6,121 Other payables (35,245) Amount due to holding company (542,793) Amount due to related companies (379,994) Total net assets disposed (951,828) Gain on disposal 951,829 Proceeds from disposal 1 Less: Cash and bank balances disposed (6,121) Net cash outflow from disposal (6,120) 162 DESTINI BERHAD ANNUAL REPORT 2024
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