NOTES TO THE FINANCIAL STATEMENTS Registration No. 200301030845 (633265-K) - 85 - 6. Investment in Subsidiaries (Cont’d) (c) Disposal of subsidiaries (Cont’d) In the previous financial period (Cont’d) (ii) On 11 June 2024, the Company has disposed of 367,500 ordinary shares in Destini Engineering Technologies Sdn. Bhd. (“DETSB”), a direct subsidiary of the Company, representing 49% of equity interest in DETSB to Mohamad Najib Bin Mohd Ali for a cash consideration of RM1. The effect of the disposal of DETSB 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 25 Inventories 260,075 Trade receivables 290,807 Other receivables 20,631 Cash and bank balances 8,173 Trade payables (24,720) Other payables (222,816) Amount due to ultimate holding company (3,624,107) Amount due to holding company (134,633) Total net assets disposed (3,426,565) Gain on disposal 3,426,566 Proceeds from disposal 1 Less: Cash and bank balances disposed (8,173) Net cash outflow from disposal (8,172) DESTINI BERHAD ANNUAL REPORT 2025 168
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