ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 219 INTEGRATED ANNUAL REPORT 2026 19. INTANGIBLE ASSETS (CONTINUED) Details of the assets acquisition and assets acquired and liabilities assumed are as follows: RM million Total purchase consideration 121 Add: Assets acquired and liabilities assumed 5 Cash and bank balances (1) Trade and other receivables (3) Trade and other payables 9 Acquisition related costs 6 132 Net cash flows for the asset acquisition are as follows: RM million Cash consideration 60 Add: Contingent consideration paid 42 Add: Acquisition related costs 6 Less: Cash and bank balances acquired (1) Net cash outflow on acquisition (included in cash flows from investing activities) 107 (b) Development costs The development costs relate to Havstjerne ANS, an entity in which Stella Maris holds a 40% equity interest, and which is associated with the acquisition described in (a) above. The Group has assessed the arrangement and concluded that it constitutes a joint operation, as both the Group and its partner have direct rights to the assets and are jointly and severally liable for the liabilities of the arrangement. The intangible assets recognised represent the related costs associated with the design, exploration and construction of a carbon capture and storage (“CCS”). Capitalisation continues until the CCS facility is available for its intended use. The development costs will be amortised over the estimated license period or useful life of the project, whichever is shorter, commencing upon commencement of operations.
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