ANNUAL REPORT 2025 177 NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 15. Investment in subsidiaries (cont'd) (a) During the financial year: (cont'd) (ii) Disposal of partial interest in a subsidiary (cont'd) RM Proceeds from disposal 13,333,125 Less: non-controlling interest recognised at disposal date (2,034,855) Accretion from changes in stake in subsidiary 11,298,270 The effect of disposal of shares in subsidiary on cash flows was as follows: RM Cash inflow arising on disposal 13,333,125 (b) In the previous financial year: (i) Additional investments PASB BFDSB Total RM RM RM Assets Property, plant and equipment 3,144,611 - 3,144,611 Deferred tax assets 216,206 - 216,206 Development properties 119,348,708 - 119,348,708 Inventories 7,975,997 - 7,975,997 Trade and other receivables 47,109 4,321,152 4,368,261 Prepayments 2,204,740 - 2,204,740 Cash and bank 724,023 2,102 726,125 133,661,394 4,323,254 137,984,648 The fair values of the identifiable assets and liabilities of acquired subsidiaries as at the acquisition date were: KLLSB acquired 70% equity interest in BFDSB for a cash consideration of RM105,000. Following the acquisition, BFDSB became a subsidiary of the Company. KLLSB acquired the remaining 49% equity interest in Posh Atlantic Sdn. Bhd. ("PASB") from the other joint venture partner for a cash consideration of RM11,707,000. Following the acquisition, PASB became a subsidiary of the Group. - 57 -
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