MKH BERHAD | ANNUAL REPORT 2023 257 41. SIGNIFICANT EVENT DURING THE YEAR AND SUBSEQUENT EVENTS (CONT’D) (c) On 30 June 2023, Intelek Murni (M) Berhad, a wholly owned subsidiary of the Company has wound up the Membership Scheme for Mewah Club (“Scheme”). Subsequent to 20 July 2023, Intelek Murni (M) Berhad, Universal Trustee (Malaysia) Berhad and members of the Scheme had entered into a Deed of Revocation to wind-up the Scheme with the refund paid in full to eligible members with effect from 30 June 2023, the termination date. (d) 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 nest assets value of Metro Emart Sdn. Bhd. of RM1 only. As a result, Metro Emart Sdn. Bhd. ceased to be a subsidiary of the Group. (e) On 7 December 2023, Intra Tegas (M) Sdn. Bhd. (“ITSB”), a wholly owned subsidiary of the Company has completed the acquisition of 6,000,000 ordinary shares representing 60% of total equity interest of Knowledge Builder Sdn. Bhd. (“KBSB”), for a cash consideration of RM17,000,000, which RM12,000,000 has been paid as at year end as disclosed in Note 20(h)(ii). As a result, KBSB became a 60% owned subsidiary of ITSB and of the Group. 42. OPERATING LEASE ARRANGEMENTS - THE GROUP AS LESSOR The Group has entered into property leases on its investment properties, which comprise an international school and other retail properties, with the remaining non-cancellable lease period ranging from 2 years to 16 years (2022: 3 years to 17 years). The lease contracts contain fixed upward revision of the rental charges over the lease period. Future minimum rental receivables under non-cancellable operating leases at the reporting date but not recognized as receivables, are as follows: The Group 2023 2022 RM RM Not later than 1 year 4,578,286 4,512,418 Later than 1 year but not later than 5 years 12,664,715 14,777,555 Later than 5 years 23,390,041 25,855,487 40,633,042 45,145,460 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
RkJQdWJsaXNoZXIy NDgzMzc=