Serba Dinamik Annual Report 2016

2016 Annual Report 161 NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 27. SIGNIFICANT EVENTS (CONT’D) A deficit in business combination arose as a result of the reverse acquisition as follows : RM Purchase consideration 531,799,999 Less: Share capital of Serba Dinamik Group (73,978,860) Less: Share premium of Serba Dinamik Group (23,111,598) Merger reserve 434,709,541 The Company was listed on the Main Board of Bursa Malaysia Securities Berhad on 8 February 2017. 28. CAPITAL COMMITMENTS· GROUP 2016 RM Land Contracted but not provided for 9,780,790 29. SUBSEQUENT EVENT On 20 February 2017, the Group entered into a share purchase agreement for the acquisition of 40% equity interest in Konsortium Amanie JV Sdn. Bhd. for a cash consideration of RM34 million. 30. COMPARATIVE FIGURE There are no comparative figures for the statement of profit or loss and comprehensive income, statement of financial position, statement of cash flows as well as the related disclosures as this is the Group and Company’s first set of financial statements.