18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) (a) Group restructuring during the financial year (cont’d.) During the financial year, the Group and the Company executed and completed an internal Group restructuring scheme involving the following: (cont’d.) (ii) On 6 March 2025, Tropicana Central Department Store Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (iii) On 6 March 2025, Greenforest Realty Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (iv) On 10 March 2025, Sehati Rakyat Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (v) On 10 March 2025, Sejahtera Rakyat Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (vi) On 10 March 2025, Sejati Rakyat Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (vii) On 17 March 2025, the Company subscribed to all 249,999 new ordinary shares alloted by its wholly-owned subsidiary, Tropicana Makmur Cahaya Sdn Bhd at an issue price of RM1 per share for a total cash consideration of RM249,999. (viii) On 19 March 2025, Bakat Rampai Sdn Bhd (“BRSB”), a wholly-owned subsidiary of the Company, completed a capital reduction exercise to reduce its investment in its wholly-owned subsidiary, Tropicana City Sdn Bhd by cancelling 3,777,759 ordinary shares, all of which are held by BRSB amounting to RM3,777,759. (ix) On 7 April 2025, Tropicana Lido Development Sdn Bhd was struck off from the Register of the Companies Commission of Malaysia and dissolved following the publication of the notice of striking off pursuant to Section 551(3) of the Companies Act 2016 in the Gazette. (x) On 9 May 2025, the Company completed a capital reduction exercise to reduce its investment in a wholly-owned subsidiary, Tropicana Landmark Education Sdn Bhd by cancelling 999,999 ordinary shares, all of which are held by the Company amounting to RM999,999. 317
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