217 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʧ (cont’d) 7. INVESTMENT IN SUBSIDIARIES (CONT’D) (c) Additional investments in subsidiaries (Cont’d) On 4 December 2023, the Company had subscribed for additional of RM60,750,000 new ordinary shares in EGSGB for a total consideration of RM60,750,000, which did not result in changes in the equity interest. (d) Internal restructuring On 3 May 2024, MYEGJOBS acquired 100% equity interest in MTSSB from Hurr TV and the other shareholder of Hurr Tv for a total consideration of RM150,002. On 2 October 2024, MYEGC acquired 51% equity interest of MYEG VAC from BXSB for a total consideration of RM1,000. On the same day, MYEGC acquired 100% equity interest of MYEGPHA from BXSB for a total consideration of RM1,000,000. (e) Disposal of a subsidiary On 2 October 2024, MYEGC disposed of its 100% equity interest in BXSB for a total consideration of RM60,520,000 satisfied by issuance of shares in the purchaser to MYEGC, which were accounted for as other investments. The disposal arrangement included an assignment of debts amounting to RM55,665,075. The effect of the above disposal on the financial position of the Group as at the date of the disposal was as follows: BXSB RM’000 Group Fair value of net identifiable assets Property, plant and equipment 11,297 Inventories 21,501 Trade receivables 427 Other receivables 24,114 Cash and bank balances 4 Trade payables (340) Other payables (69,798) Net liabilities disposed (12,795) Add: Assignment debts 55,665 Less: Consideration satisfied by shares included in other investments (60,520) Gain on disposal (17,650) (f) Non-controlling interest The Group’s subsidiaries which have non-controlling interests are not individually or in aggregate material to the financial position, financial performance and cash flows of the Group. (g) Material accounting policy information Investment in subsidiaries are measured in the Company’s statement of financial position at cost less accumulated impairment losses.
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