240 MKH BERHAD | ANNUAL REPORT 2023 35. ACQUISITION AND DISPOSAL OF SUBSIDIARIES During the financial year (a) On 11 October 2022, the Company has disposed 1,000 ordinary shares representing 100% of the equity interest of Danau Saujana Sdn. Bhd. to another susbdiary for a cash consideration of RM1,000. The said disposal did not give rise to a material impact on the financial statements of the Group and the Company. (b) On 7 September 2023, Srijang Indah Sdn. Bhd., a wholly owned subsidiary of the Company has disposed 400,000 ordinary shares representing 100% of the total equity interest of Metro Emart Sdn. Bhd. for a total cash consideration of RM1, which is arrived at on a “willing-buyerwilling-seller” basis after taking into consideration the net assets value of Metro Emart Sdn. Bhd. of RM1 only. The said disposal did not give rise to a material impact on the financial statements of the Group. In the previous financial year (a) On 3 November 2021, the Company has 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: The Group 2022 RM Property, plant and equipment 30,420 Receivables, deposits and prepayments 3,483 Cash and bank balances 323,495 Payables and accruals (230,381) Total identifiable net assets 127,017 Non-controlling interests (50,807) Equity attributable to owner of the parent 76,210 Goodwill on acquisition 223,790 Total purchase consideration paid in cash 300,000 Cash and bank balances of subsidiary acquired (323,495) Acquisition of subsidiary, net of cash acquired (23,495) Subsequently on 22 July 2022, the Company has disposed 300,000 ordinary shares representing 60% of the equity interest of JUDA, for a cash consideration of RM300,000. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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