Notes To The Financial Statements (Cont’d) 31 March 2026 ANNUAL REPORT 2026 ENRA GROUP BERHAD 123 Registration No: 45 199201005296 (236800 - T) 6. INVESTMENTS IN SUBSIDIARIES (continued) (a) (continued) Investments accounted for at cost shall be accounted for in accordance with MFRS 5 Noncurrent Assets Held for Sale and Discontinued Operations when they are classified as held for sale (or included in a disposal group that is classified as held for sale) in accordance with MFRS 5. When control of a subsidiary is lost as a result of a transaction, event or other circumstance, the Group would derecognise all assets, liabilities and non-controlling interests at their carrying amounts and to recognise the fair value of the consideration received. Any retained interest in the former subsidiary is recognised at its fair value at the date control is lost. The resulting difference is recognised as a gain or loss in profit or loss. (b) Equity contributions to subsidiaries are unsecured, interest-free and settlement is neither planned nor likely to occur in the foreseeable future for the purposes of providing the subsidiaries with a long term source of additional capital. During the financial year, the Company reclassified amounts due from subsidiaries totalling RM12,565,000 (2025: RM70,790,000) as equity contributions to the respective subsidiaries. The Company also reclassified an equity contribution of RM16,187,000 (2025: Nil) as an amount due from a subsidiary following management’s reassessment that the amount is expected to be recoverable from the proceeds of the planned disposal of a vessel, as disclosed in Note 4(e) to the financial statements. (c) Changes in investment in subsidiaries during the financial year (i) On 9 May 2025, ENRA Land Sdn. Bhd. (“ELand”), a wholly-owned subsidiary of the Company, has incorporated a new 55% owned-subsidiary known as Hamptons Avantex Property Sdn. Bhd. ("HAPSB"), with a total paid up share capital of RM250,000 comprising 250,000 ordinary shares. HAPSB is principally engaged in property development. (ii) On 26 June 2025, MSMENRA Sdn Bhd. (“MSMENRA”), an indirect 70%-owned subsidiary of the Company, which was placed under members' voluntary liquidation in the previous financial year, was dissolved and ceased to be a subsidiary of the Company. The dissolution has no material financial impact on the Group’s financial statements for the financial year ended 31 March 2026. (iii) On 24 October 2025, ELand subscribed for an additional 150,000 ordinary shares in the share capital of Hamptons Homes Sdn. Bhd. (“HHSB”) at an issued price of RM1.00 each, by way of capitalising shareholder advances amounting to RM150,000 owing by HHSB to ELand. (iv) On 8 January 2026, ENRA Engineering and Fabrication Sdn. Bhd. ("EEFAB"), an indirect wholly-owned subsidiary of the Company, commenced the strike-off process, which was subsequently completed on 13 April 2026. The dissolution subsequent to the end of the financial year has no material financial impact on the Group's financial statements.
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