NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025 9. DISCONTINUED OPERATION AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE On 17 September 2025, the Company’s wholly-owned subsidiary, Metro Kajang (Oversea) Sdn. Bhd. (“MKO”), has entered into a Share Transfer Agreement (“STA”) with a third party, Kunshan Meiao New Energy Technology Co., Ltd. (“KMNET”) for the proposed disposal of 100% equity interest in Vast Furniture Manufacturing (Kunshan) Co., Ltd. (“Vast Kunshan”) for a total cash consideration as disclosed in Note 39(c). Vast Kunshan is grouped under manufacturing business segment and its factory lot is grouped under property investment segment. The decision to divest this business segment is in line with the Group’s objective of disposing of its non-core businesses and focus on its core businesses in property development, property investment and oil palm plantation. As at 30 September 2025, the assets and liabilities related to Vast Kunshan have been presented in the consolidated statement of financial position as “Assets of disposal group classified as held for sale” and “Liabilities of disposal group classified as held for sale”. The results of Vast Kunshan are presented separately on the consolidated statement of comprehensive income as “Profit for the financial year from discontinued operation”. The comparative consolidated statement of comprehensive income has also been re-presented to show the discontinued operation separately from the continuing operations. Statement of financial position disclosure The major classes of assets and liabilities of Vast Kunshan classified as held for sale and the related reserves as at 30 September 2025 are as follows: The Group RM Assets Property, plant and equipment (Note 11) 8,115,084 Prepaid lease payments (Note 14) 2,484,802 Investment properties (Note 15) 7,418,541 Inventories 158,699 Receivables, deposits and prepayments 1,064,366 Cash, bank balances and short-term placements 4,566,960 Assets of disposal group classified as held for sale 23,808,452 Liabilities Deferred tax liabilities (Note 20) 2,686,555 Payables and accruals 2,475,629 Current tax liabilities 657 Liabilities of disposal group classified as held for sale 5,162,841 Net assets of disposal group classified as held for sale 18,645,611 Reserves Translation reserve 2,030,740 Revaluation reserve 6,055,054 Reserves of disposal group classified as held for sale 8,085,794 PG | 208 ANNUAL REPORT 2025 MKH BERHAD
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