211 35. RELATED PARTIES (continued) Related party transactions (continued) Other than government-controlled entities and as disclosed elsewhere in the financial statements, significant related party balances related to the above transactions are as follows: Group 2024 2023 RM’mil RM’mil Trade and other receivables Key management personnel* 1 2 Trade and other payables Substantial shareholders* (2) (1) Key management personnel* (11) (5) (13) (6) Lease liabilities Substantial shareholders* (223) (159) * Including parties directly/jointly-controlled by substantial shareholders or key management personnel. 36. ACQUISITION AND DISPOSAL OF SUBSIDIARIES/BUSINESS Acquisitions of material subsidiaries in 2024 (a) On 29 February 2024, Pantai Holdings Sdn. Bhd. (“PHSB”), an indirect wholly-owned subsidiary of IHH, completed the acquisition of the entire equity interest in Bedrock Healthcare Sdn. Bhd. (“Bedrock”) for a total cash consideration of RM274 million on a cash free debt free basis, subject to closing adjustments (“Acquisition”). Upon completion of the Acquisition, Bedrock and its subsidiaries, namely Mestika Unik Sdn. Bhd. and Eminent Rock Sdn. Bhd. have been consolidated as subsidiaries of IHH. (b) On 4 November 2024, PHSB completed the acquisition of the entire equity interest in Island Hospital Sdn. Bhd. (“Island Hospital”) for a total cash consideration of RM3,997 million (“Acquisition”). Upon completion of the Acquisition, Island Hospital and its following wholly-owned subsidiaries, have been consolidated as subsidiaries of IHH: − Island Retail Pharmacy Sdn. Bhd. − Coronation Springs Sdn. Bhd. − IMC Hospitality Sdn. Bhd. − Island Medisuite Sdn. Bhd.
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