MKH Annual Report 2018

181 MKH Berhad Annual Report 2018 29. DIVIDEND Net dividend Total per share amount Date of payment Sen RM 2018 Interim single tier dividend of 5.0 sen per ordinary share in respect of financial year ended 30 September 2017 5.0 29,284,585 11 January 2018 2017 Interim single tier dividend of 7.0 sen per ordinary share in respect of financial year ended 30 September 2016 7.0 29,362,829 31 December 2016 A first interim single tier dividend of 3.5 sen per ordinary share in respect of financial year ended 30 September 2018 amounting to RM20,268,891 was declared on 30 November 2018 and to be paid on 10 January 2019. The financial statements for the current financial year do not reflect the dividend. Such dividend will be accounted in equity as an appropriation of retained earnings in the financial year ending 30 September 2019. The directors do not recommend any final dividend payment in respect of the financial year ended 30 September 2018. 30. ACQUISITION OF SUBSIDIARIES During the financial year (a) On 16 January 2018, Kajang Resources Corporation Sdn. Bhd. (“KRC”), a wholly owned subsidiary of the Company, acquired 2 ordinary shares representing 100% of the equity interest in MKH Property Ventures Sdn. Bhd. (“MPVSB”), for a cash consideration of RM2. Subsequently on 28 February 2018 and 27 March 2018, KRC subscribed for 509,998 and 19,890,000 new ordinary shares in MPVSB, representing 51% of the total allotment of 999,998 and 39,000,000 new ordinary shares respectively. The said acquisition did not give rise to a material impact on the financial statements of the Group. (b) On 17 January 2018, the Company acquired 2 ordinary shares representing 100% of the equity interest in Metro Readymix Sdn. Bhd., for a cash consideration of RM2. The said acquisition did not give rise to a material impact on the financial statements of the Group. In the previous financial year (a) On 4 October 2016, the Company incorporated a wholly-owned subsidiary company known as MKH Land (Aust) Pty Ltd in Australia with issued and paid up share capital of AUD100 comprising 100 shares of AUD1 each. The said incorporation did not give rise to a material impact on the financial statements of the Group. (b) On 4 July 2017, the Company acquired 100% of the equity interest in MKH IHS Precast Sdn. Bhd., for a cash consideration of RM2. The said acquisition did not give rise to a material impact on the financial statements of the Group. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018