Registration No. 200301030845 (633265-K) - 84 - 6. Investment in Subsidiaries (Cont’d) (b) Acquisition of subsidiaries (Cont’d) In previous financial period (i) On 19 December 2023, Hijau Baiduri Sdn. Bhd. (“HBSB”), a wholly-owned subsidiary of Destini Energy Sdn. Bhd. (“DESB”), a wholly owned subsidiary, has increased its issued and paid-up share capital from 1 ordinary share to 2,000,000 ordinary shares at an issue price of RM1.00 each for a total consideration of RM1,999,999. DESB has subscribed additional 1,999,999 shares in HBSB. (ii) On 28 June 2024, Destini Oil Services Sdn. Bhd. (“DOSSB”), a wholly-owned subsidiary of the Company has increased its issued and paid-up share capital from 45,000,000 ordinary shares to 75,000,000 ordinary shares at an issue price of RM1.00 each for a total consideration of RM30,000,000. The Company has subscribed additional 30,000,000 shares in DOSSB. (c) Disposal of subsidiaries In the previous 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 statements of 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) DESTINI BERHAD ANNUAL REPORT 2025 167
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