MKH Berhad 199 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATE (CONT’D) 35. (b) (c) (d) On 24 November 2021, the Company has acquired 1 ordinary share representing 100% of equity interest of Europixel Sdn. Bhd. (“ESB”) from another subsidiary, for a cash consideration of RM1. The said acquisition did not give rise to a material impact on the financial statements of the Group and the Company. On 16 February 2022, MKH Oil Palm (East Kalimatan) Berhad (formerly known as MKH Global Plantation Sdn. Bhd.) (“MKHOP”), a wholly owned subsidiary of the Company has acquired 1 ordinary share representing 100% of equity interest of Restu Mesra Sdn. Bhd. (“RMSB”) for a cash consideration of RM1. The said acquisition did not give rise to a material impact on the financial statements of the Group. On 22 August 2022, the Company and Metro Emart Sdn. Bhd., a wholly owned subsidiary of the Company has disposed off 1 ordinary share representing 100% of the total equity interest each of ESB, Hexapace Sdn. Bhd. (“HSB”) and Mercu Jasakita Sdn. Bhd. (“MJSB”), for a total cash consideration of RM3. The effect of the said disposal on the financial position of the Group and the Company as at the date of disposal are as follows: (e) In the previous financial year, MKH Building Materials Sdn. Bhd., a wholly owned subsidiary of the Company, acquired 49 new ordinary shares representing 49% of the equity interest in Sunway MKH Marketing Sdn. Bhd., for a cash consideration of RM49. The said acquisition did not give rise to a material impact on the financial statements of the Group. MJSB 2022 RM HSB 2022 RM ESB 2022 RM Property, plant and equipment Receivables, deposits and prepayments Cash and bank balances 1,628 Payables and accruals (122,687) Total identifiable net liabilities, representing equity - - (121,059) attributable to owner of the parent 607 (45,327) - 2,628 (42,092) 7,612 (76,540) 48,282 - (20,646) Total proceed from disposal paid in cash 121,060 Cash and bank balances of subsidiary disposed (1,627) Net cash outflows from disposal Gain on disposal (1,628) 1 42,093 (606) (607) 1 20,647 (7,611) (7,612) 1 FINANCIAL GUARANTEES 36. 2022 RM 2021 RM The Company Outstanding as at financial year end 504,347,539 346,177,860 Corporate guarantees given by the Company to financial institutions and creditors for banking and credit facilities granted to the subsidiaries:
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