NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 45. FINANCIAL INSTRUMENTS (CONT’D) (c) Fair value of financial instruments (Cont’d) (iv) Level 3 fair value Level 3 fair value for the financial assets and liabilities are estimated using unobservable inputs. Reconciliation of fair value measurement of Level 3 financial instruments: 2023 2022 RM’000 RM’000 Group At FVTOCI Unquoted shares At beginning of the financial year 211,409 222,184 Addition 5,906 - Disposal (573) - Changes in fair value through OCI (6,333) - Transfer to level 2 (11,425) - Transfer to FVTPL - (10,775) At end of the financial year 198,984 211,409 Limited partnership At beginning of the financial year - - Addition 4,729 - At end of the financial year 4,729 - 203,713 211,409 46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (a) On 19 January 2023, the proposed distribution of 84,000,000 ordinary shares in Agmo, representing the Company’s entire 25.8% equity interest in Agmo held through MYEGC, a wholly-owned subsidiary of the Company, to entitled shareholders of the Company in two separate tranches by way of a dividend-in-specie (“Proposed Dividend-in-Specie”) has been approved. On 10 March 2023, the Company has successfully executed the first tranche of its dividend-in-specie which entails the distribution of up to 69,750,000 Agmo shares held by the Company through MYEGC. Of these shares, 69,724,752 Agmo shares amounted to RM50,899,069 have been distributed to entitled shareholders, while the remaining 25,248 Agmo shares, stemming from fractional entitlements, will be retained by MYEGC. The basis of distribution was for every one share of the Company’s held, the shareholders would be entitled for 0.0093 Agmo share. On 27 September 2023, the Company has successfully completed the second and final tranche of the dividend-in-specie which entails the distribution of up to 14,275,248 Agmo shares held by the Company through MYEGC. Of these shares, 14,255,806 Agmo shares amounted to RM8,696,042 have been distributed to the entitled shareholders, while the remaining 19,442 Agmo shares resulting from fractional entitlements will be retained by MYEGC. The basis of distribution was for every one share of the Company’s held, the shareholders would be entitled for 0.0019 Agmo share. 256 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) C S S (CO )
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