Financial Statements Notes to the Financial Statements 36. ACQUISITION AND DISPOSAL OF SUBSIDIARIES/BUSINESS (continued) Acquisitions of material subsidiaries in 2024 (continued) Identifiable assets acquired and liabilities assumed The following summarises the recognised fair value of assets acquired and liabilities assumed at the date of acquisition: Note Bedrock Island Hospital (Provisional) Total RM’mil RM’mil RM’mil Property, plant and equipment 3 25 700 725 Right-of-use assets 4 47 237 284 Other intangible assets 6 21 – 21 Tax recoverables – 19 19 Interests in joint ventures 12 – 12 Inventories 5 20 25 Trade and other receivables 7 36 43 Other financial assets – 73 73 Cash and cash equivalents 41 79 120 Loans and borrowings (15) (391) (406) Lease liabilities (1) – (1) Employee benefits – (4) (4) Trade and other payables (18) (76) (94) Deferred tax liabilities 11 (11) (66) (77) Tax payable (1) – (1) Fair value of net identifiable assets acquired 112 627 739 Net cash outflow arising from acquisition of subsidiaries Bedrock Island Hospital Total RM’mil RM’mil RM’mil Purchase consideration settled in cash and cash equivalents 274 3,997 4,271 Less: Cash and cash equivalents acquired (41) (79) (120) 233 3,918 4,151 Goodwill Note Bedrock Island Hospital (Provisional) Total RM’mil RM’mil RM’mil Total purchase consideration 274 3,997 4,271 Fair value of net identifiable assets acquired (112) (627) (739) Goodwill 6 162 3,370 3,532 As at 31 December 2024, the Group had completed the purchase price allocation (“PPA”) for the acquisition of Bedrock. As at 31 December 2024, the Group is in the midst of performing a PPA for the acquisition of Island Hospital. The goodwill, fair value of assets acquired and liabilities assumed on acquisition of Island Hospital would be adjusted accordingly upon completion of the PPA. Goodwill on Bedrock and Island Hospital are attributable mainly to the synergies expected to be achieved by integrating the entity into the Group’s existing business. IHH Healthcare Berhad | Annual Report 2024 212
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