NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 5. INVESTMENT IN SUBSIDIARIES (CONT’D) (ii) In the previous financial year (Cont’d):- (c) the Company subscribed 100 new ordinary shares in MCHB Development (Southern) Sdn. Bhd. for a total cash consideration of RM100; (d) the Company subscribed 100 new ordinary shares in MCHB Development (KV) Sdn. Bhd. for a total cash consideration of RM100; (e) the Company subscribed 13,800,000 new ordinary shares in Matrix Development (Australia) Pty Ltd by capitalising the amount owing by Matrix Development (Australia) Pty Ltd of RM43,616,280; (f) Masuda Corporation Sdn. Bhd. initiated a capital reduction in respect of its issued and paid-up ordinary shares by cancelling 1,700,000 ordinary shares and returning RM1,700,000 to the Company; and (g) MCHB Natro’ Green Sdn. Bhd. initiated a capital reduction in respect of its issued and paid-up ordinary shares by cancelling 150,000 ordinary shares and returning RM150,000 to the Company. (iii) The non-controlling interests at the end of the reporting period comprise the following:- EFFECTIVE EQUITY INTEREST THE GROUP 2023 % 2022 % 2023 RM’000 2022 RM’000 Matrix Educare Sdn. Bhd. 49 49 (9,104) (6,174) Matrix Medicare Sdn. Bhd. 30 30 (6,805) (5,331) Other immaterial subsidiary 139 - (15,770) (11,505) INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 177
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