200 MKH BERHAD | ANNUAL REPORT 2023 15. INVESTMENT IN SUBSIDIARIES (CONT’D) Details of the subsidiaries are as follows: (Cont’d) ∞ During the financial year, the Company disposed 1,000 ordinary shares of RM1, representing 100% equity interest in Danau Saujana Sdn. Bhd. for a total cash consideration of RM1,000 to Gabung Wajib Sdn. Bhd., a wholly owned subsidiary of the Company. Subsequently, Gabung Wajib Sdn. Bhd. subscribed for 161,500 new ordinary shares of RM1 in Danau Saujana Sdn. Bhd., representing 65% of total allotment of 249,000 new ordinary shares. The changes in the proportion of ownership interest and voting power held by the Group resulted in RM137,205 reduction in non-controlling interest. * During the financial year, Alif Mesra Sdn. Bhd. has reduced its share capital from RM16,000,000 to RM1,000,000 via cash distribution of RM9,750,000 to immediate holding company, Gabung Wajib Sdn. Bhd. and to non-controlling interests of RM5,250,000 and Temara Pekeliling Sdn. Bhd. which has reduced its share capital from RM35,945,680 to RM1,000,680 via cancellation of 34,945,000 ordinary shares by capital repayment of RM29,353,800 to immediate holding company, Amona Metro Development Sdn. Bhd. and RM5,591,200 to non-controlling interests. The reduction in the share capital did not give rise to any changes in proportion of ownership interest and voting power held by the Group. ^ During the financial year, Pelangi Semenyih Sdn. Bhd. has reduced its share capital from RM2,000,000 to RM100,000 via cash distribution of RM1,900,000 to the Company and Metro Kajang Construction Sdn. Bhd. which has reduced its share capital from RM4,099,513 to RM100,000 via cash distribution of RM3,999,513 to the Company, and resulted in a gain of RM1,137,537. The reduction in the share capital did not give rise to any changes in proportion of ownership interest and voting power held by the Group. After the financial year end, on 2 November 2023, Serentak Maju Corporation Sdn. Bhd. has reduced its share capital from RM500,000 to RM100,000 via cash distribution of RM400,000 to the Company, and on 15 November 2023, Everland Asia Development Sdn. Bhd. which has reduced its share capital from RM1,000,000 to RM100,000 via a cash distribution of RM900,000 to the Company. The reduction in the share capital did not give rise to any changes in proportion of ownership interest and voting power held by the Group. # Subsidiaries audited by firms of auditors other than Deloitte PLT. & Subsidiaries audited by a member firm of Deloitte PLT. @ The investment in shares have been pledged as security for credit facilities granted to subsidiary as disclosed in Note 33. ! The subsidiary is not audited by Deloitte PLT. As the company is dormant, no statutory audit is required under the Australian Corporations Act. Ω During the financial year, the Group has disposed the subsidiary for a total cash consideration of RM1. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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