ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 213 INTEGRATED ANNUAL REPORT 2026 17. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) (b) On 9 December 2025, Yinson Renewables (NZ) Limited (“YR(NZ)L”), an indirect wholly-owned subsidiary of the Company, completed the acquisition of 100% of the equity interest in Mt Cass Wind Farm Limited (“Mt Cass”). As a result, Mt Cass became an indirect wholly-owned subsidiary of the Company. On 19 December 2025, Mt Cass has entered into a 15-year Power Purchase Agreement with Genesis Energy Limited in relation to the commercial operation of a wind farm currently under construction by Mt Cass. The acquisition is treated as an asset acquisition. (continued) Details of assets acquired and liabilities assumed are as follows: RM million Construction work-in-progress 10 Deferred tax assets 1 Trade and other payables (7) Leases (2) 2 (c) On 6 September 2024, YR Peru S.A.C, an indirect wholly-owned subsidiary of the Company signed the “Second Amendment to the SPA” to acquire the remaining shares from Verano Energy SpA (“Verano”) as the fulfilment of Milestone Payment 3 at the purchase consideration of approximately USD1 million (approximately RM4.6 million). As a result, the equity interest in Majes Sol. De Verano S.A.C (“Majes”) has increased from 51% to 100%, collectively owned by YR Peru S.A.C of 49% and YR Peru Limited of 51%. The Group has concluded that it had obtained control in Majes. Accordingly, the Group’s investment in Majes was reclassified from joint venture to wholly-owned subsidiary. This transaction has been accounted for as an asset acquisition rather than a business combination. Details of the asset acquisition and cash outflow are as follows: RM million Cash paid 5 Details of the assets acquired and liabilities assumed are as follows: RM million Construction work-in-progress (assets acquired and liabilities assumed) 16 Less: Carrying amount of investment in joint venture derecognised (11) Net cash outflow on acquisition (included in cash flows from investing activities) 5 (d) The carrying amounts of property, plant and equipment pledged to financial institutions for banking facilities granted to the Group and leased assets pledged to the related finance lease liabilities as disclosed in Note 33 and Note 34(b) at reporting date respectively were as follows: Group 2026 RM million 2025 RM million FPSO 2,228 2,705 Solar plant and building1 325 934 Others (electric vehicles) 50 39 2,603 3,678 1 reclassified to assets held for sale during the current financial year in relation to the Bhadla and Nokh solar plants. See Note 39.
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