242 MKH BERHAD | ANNUAL REPORT 2023 35. ACQUISITION AND DISPOSAL OF SUBSIDIARIES (CONT’D) In the previous financial year (Cont’d) (d) On 22 August 2022, the Company and Metro Emart Sdn. Bhd., a wholly owned subsidiary of the Company has disposed 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: ESB HSB MJSB 2022 2022 2022 RM RM RM Property, plant and equipment - 2,628 - Receivables, deposits and prepayments 48,282 - - Cash and bank balances 7,612 607 1,628 Payables and accruals (76,540) (45,327) (122,687) Total identifiable net liabilities, representing equity attributable to owner of the parent (20,646) (42,092) (121,059) Gain on disposal 20,647 42,093 121,060 Total proceed from disposal paid in cash 1 1 1 Cash and bank balances of subsidiary disposed (7,612) (607) (1,628) Net cash outflows from disposal (7,611) (606) (1,627) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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