NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025 39. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR AND SUBSEQUENT EVENTS TO THE END OF THE FINANCIAL YEAR (CONT'D) (b) On 26 August 2025, MKH Oil Palm (East Kalimantan) Berhad (“MKHOP”), a listed subsidiary of the Company and its wholly-owned subsidiary, Hala Maju Sdn. Bhd. (“HMSB”), which entered into a conditional shares sale and purchase agreement with PT Sinar Reka Murni ("PT Sinar"), to acquire from PT Sinar 999 ordinary shares and 1 ordinary share, respectively, which make up the entire 100% equity interest in PT Tunas Tani Tutus ("PT Tunas") from PT Sinar together with all the rights, interest and benefits attached thereto for a total cash consideration of IDR34,965,000,000, which is approximately RM8,846,000 (based on the exchange rate of RM1: IDR3,953 the closing rate on 30 September 2025). On 19 September 2025, MKHOP made a deposit payment of IDR16,000,000,000, which is equivalent to RM4,208,165 (based on the transacted exchange rate of RM1: IDR3,802) as disclosed in Note 21(g)(iii). This amount represents the purchase consideration for 457 ordinary shares of PT Tunas from PT Sinar. On 14 October 2025, MKHOP and HMSB perfected the shares transfer for 456 ordinary shares and 1 ordinary share respectively. On the same date, MKHOP and HMSB subscribed for an additional 18,001 and 999 new ordinary shares, respectively, in PT Tunas at a nominal value of IDR500,000 per ordinary share or a total cash subscription of IDR9,500,000,000, which is equivalent to RM2,474,383 (based on the transacted exchange rate of RM1: IDR3,839). PT Sinar has declined to take up the shares proportionately allocated to it. As a result, MKHOP and HMSB have hold 92.285% and 5% equity interest in PT Tunas respectively. On 20 October 2025, PT Tunas received approval from the Ministry of Law of the Republic of Indonesia for the transition from a domestic local company to a foreign-owned entity. This change will allow PT Tunas to operate within the framework of foreign investment. As a result, PT Tunas has become a subsidiary of MKHOP and the Company. (c) On 17 September 2025, Metro Kajang (Oversea) Sdn. Bhd. (“MKO”), a wholly-owned subsidiary of the Company 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 of Chinese Yuan Renminbi (“CNY”) 84,000,000, equivalent to approximately RM49,652,400 (based on exchange rate of RM1: CNY1.69176) (“Consideration”) (hereinafter referred to as the “Proposed Disposal”). PG | 290 ANNUAL REPORT 2025 MKH BERHAD
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