44. SIGNIFICANT EVENTS (CONTD.) (a) Arising from the business combination, the Company performed a purchase price allocation exercise resulting in the recognition of intangible assets relating to customer contract and customer relationships of RM9.8 million and RM6.8 million, respectively. The purchase consideration was satisfied by: RM’000 Cash consideration 74,846 Deferred consideration payable (Note 36(e)) 11,497 86,343 The effect of the acquisition on cash flows was as follows: RM’000 Purchase consideration satisfied by cash 73,135* Cash and cash equivalent of the subsidiaries acquired (4,400) Net cash outflow on acquisition of the subsidiaries at acquisition date 68,745 * The difference in actual cash outflow to the purchase consideration at combination date is due to foreign exchange differences. The effect of the acquisition on the financial results of the Group from the date of acquisition to 31 December 2024 is as follows: RM’000 Revenue 49,623 Profit for the year 10,685 (b) On 22 October 2024, Opus International (M) Berhad (“OIM”), a wholly-owned subsidiary of Opus Group Berhad, which in turn is a wholly-owned subsidiary of the Company entered into a Joint Venture and Shareholders’ Agreement with HSS Engineering Sdn Bhd, to jointly provide engineering and technical services related to engineering, construction, asset management, and energy efficiency projects through the incorporation of a joint venture company. On 10 December 2024, Opus HSS Sdn. Bhd. was incorporated in Malaysia as a 60% subsidiary of OIM. (c) On 30 October 2024, Opus International (M) Sdn Bhd (“OIM”) entered into a Share Sale Agreement to acquire the remaining 70% ownership in Opus Consultants (M) Sdn. Bhd. (“OCM”). The transaction was completed on 12 December 2024, upon which OCM transitioned from being an associate to becoming a wholly-owned subsidiary of the Group on the same date. Notes to the Financial Statements For the year ended 31 December 2024 UEM EDGENTA BERHAD 372 Integrated Annual Report 2024
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