145 ENRA GROUP BERHAD ANNUAL REPORT 2025 Notes To The Financial Statements (Cont’d) 31 March 2025 Registration No: 49 199201005296 (236800 - T) 6. INVESTMENTS IN SUBSIDIARIES (continued) e) Changes in investment in subsidiaries during the previous financial year (continued) (ii) Disposal of ENRA IOL Sdn. Bhd. (“EIOL”) (continued) The gain on disposal of a subsidiary of the Group and of the Company in the previous financial year is as follows: Group Company 2024 2024 RM’000 RM’000 Total disposal proceeds 1,200 1,200 Carrying amount of EIOL’s net asset at disposal date (2,106) - Minority interests of EIOL’s at disposal date 1,026 - Carrying amount of cost of investment in EIOL - (1,000) Gain on disposal of a subsidiary 120 200 (iii) Dilution of equity interest in ENRA Labuan Sdn. Bhd. (“ELabuan”) On 29 August 2023, ELabuan converted 104,450 Redeemable Convertible Preference Shares Series-A (“RCPS-A”) into 104,450 ordinary shares at an issued price of RM10.12 each upon the maturity date of the RCPS-A. Following the conversion, the shareholding of the Company in ELabuan has been diluted from 100% to 66%. (iv) Incorporation of subsidiaries, Hexagon Marine Logistics Labuan Ltd. ("HMLL") and HSPM. The wholly-owned subsidiary of the Company, HELSB.had on 10 April 2023 incorporated a new subsidiary known as HMLL, with a paid-up share capital of USD1 comprising of 1 ordinary shares. HELSB held 100% of the ordinary shares. On 22 December 2023, HELSB incorporated another new subsidiary known as HSPM, with a paid-up share capital of RM100 comprising of 100 ordinary shares. HELSB held 100% of the ordinary shares (f) The details of the subsidiaries are as follows: Country of incorporate/ Effective interest Principal in equity place 2025 2024 Name of company of business % % Principal activities ENRA Labuan Sdn. Bhd. Malaysia 66 66 Property development ENRA Land Sdn. Bhd. Malaysia 100 100 Investment holding ENRA Energy Sdn. Bhd. Malaysia 100 100 Investment holding ENRA Engineering & Construction Sdn. Bhd. Malaysia 100 100 Investment holding
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