282 YINSON HOLDINGS BERHAD ACCOUNTABILITY 48. SUMMARY OF EFFECTS OF DILUTION AND DISPOSAL OF COMPANIES (CONTINUED) 2025 (continued) Group (continued) (a) Total gain arising from the loss of control in YBC Group: RM million Fair value of the remaining 63.2% equity interest in YBC Group retained and held as joint venture 1,755 Less: Net assets disposed of (1,312) Net gain arising from the loss of control in YBC Group 443 Recycling of associated foreign currency translation reserves to profit or loss 59 Total gain arising from the loss of control in YBC Group 502 Net cash outflow from loss of control: Cash and bank balances disposed 206 Below is a summary of impact on Statement of Changes in Equity (“SOCIE”) arising from the transactions relating to YBC as detailed above: Date Transaction Noncontrolling interests RM million Retained earnings RM million Reflected in SOCIE as 5 Feb 2024 Conversion of quasi-equity loans into shares 223 - Transactions with non-controlling interests 18 Jun 2024 & 22 Oct 2024 Disposal of 0.24% and 11.56% equity interest by YAL to JOFI 190 37 Transactions with non-controlling interests 13 Aug 2024 Capital reduction by YBC (133) - Capital reduction to non-controlling interests 31 Jan 2025 Loss of control in YBC (739) - Disposal of a subsidiary to a joint venture due to loss of control (b) On 31 October 2024, Yinson Global Corporation (S) Pte. Ltd. (“YGCSPL”), a wholly owned subsidiary of the Company, had entered into a binding term sheet with an external party (“the Purchaser”) to dispose one (1) ordinary share in Yinson Global Corporation (HK) Limited (“YGCHKL”) for a consideration of USD1. On 14 November 2024, YGCSPL and the Purchaser have signed the share purchase agreement to execute the disposal pursuant to the binding term sheet. The disposal resulted in a gain arising from the reclassification of cumulative foreign currency translation reserves of RM181 million to profit or loss in the current financial year.
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