198 Annual Report 2022 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATE 35. (a) On 3 November 2021, the Company acquired 300,000 ordinary shares representing 60% of the equity interest in Juda Universe Sdn. Bhd. (“JUDA”), for a cash consideration of RM300,000. The fair value of the assets acquired and liabilities assumed at the effective date of acquisition are as follows: Subsequently on 22 July 2022, the Company disposed off 300,000 ordinary shares representing 60% of the equity interest of JUDA, for a cash consideration of RM300,000. The effect of the disposal of JUDA on the financial position of the Group as at the date of disposal are as follows: 2022 RM The Group Property, plant and equipment Receivables, deposits and prepayments Cash and bank balances 323,495 Payables and accruals (230,381) Total identifiable net assets 3,483 30,420 Equity attributable to owner of the parent (50,807) Goodwill on acquisition 300,000 Total purchase consideration paid in cash Cash and bank balances of subsidiary acquired Acquisition of subsidiary, net of cash acquired (323,495) (23,495) Non-controlling interests 127,017 223,790 76,210 2022 RM The Group Property, plant and equipment Receivables, deposits and prepayments Cash and bank balances 73,840 Payables and accruals (225,010) Total identifiable net liabilities 13,842 31,098 Equity attributable to owner of the parent 42,492 Goodwill on acquisition 300,000 Total proceed from disposal paid in cash Cash and bank balances of subsidiary disposed Net cash inflows from disposal (73,840) 226,160 Non-controlling interests (106,230) 223,790 Gain on disposal 139,948 (63,738)
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