MKH BERHAD | ANNUAL REPORT 2023 241 35. ACQUISITION AND DISPOSAL OF SUBSIDIARIES (CONT’D) In the previous financial year (Cont’d) (a) The effect of the disposal of JUDA on the financial position of the Group as at the date of disposal are as follows: The Group 2022 RM Property, plant and equipment 31,098 Receivables, deposits and prepayments 13,842 Cash and bank balances 73,840 Payables and accruals (225,010) Total identifiable net liabilities (106,230) Non-controlling interests 42,492 Equity attributable to owner of the parent (63,738) Goodwill on acquisition 223,790 Gain on disposal 139,948 Total proceed from disposal paid in cash 300,000 Cash and bank balances of subsidiary disposed (73,840) Net cash inflows from disposal 226,160 (b) 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. (c) 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. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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