Serba Dinamik Annual Report 2018

220 ANNUAL REPORT 2018 SERBA DINAMIK HOLDINGS BERHAD 5. Investment in associates - Group (continued) In the prior year, the Group has acquired 40% equity in Konsortium Amanie JV Sdn. Bhd. for a purchase consideration of RM34,000,000. During the year, the Group has acquired the followings: i) On 10 January 2018, SDIL, a wholly owned indirect subsidiary of the Company has acquired 666,670 ordinary shares representing 40% of Sreem Serba Turbines Private Limited for a total cash consideration of approximately RM1,021,501. ii) On 20 February 2018, SDIL, a wholly owned indirect subsidiary of the Company has subscribed 250 ordinary shares representing 25% shareholding in Sufini Holding Ltd. for a total cash consideration approximately RM975,375. iii) On 5 April 2018, SDGB, a wholly owned subsidiary of the Company has completed the acquisition of 14,000 ordinary shares representing 30% of Al Murisi Development Sdn. Bhd. for a total cash consideration of approximately RM18,300,000. iv) On 11 April 2018, SDIL, a wholly owned indirect subsidiary of the Company entered into a Share Purchase Agreement to acquire 1,470 shares of AED1,000 each representing 49% of equity stake in Al Sagar Engineering Group LLC and Al Sagar National Establishment (“Al Sagar”) for a total cash consideration of approximately RM10,544,800. v) On 13 April 2018, SDIL, a wholly owned indirect subsidiary of the Company entered into eight (8) Share Purchase Agreement to acquire 128,166,250 ordinary shares representing 24.84% of equity stake in CSE Global Limited (“CSE”) for a total cash consideration of approximately RM170,567,490. vi) On 19 July 2018, SDIL, a wholly owned indirect subsidiary of the Company has acquired 51,806,000 ordinary shares representing 15% of Green & Smart Holdings PLC for a total cash consideration of approximately RM16,995,024. Subsequently, on 22 November 2018, Serba Dinamik Group Berhad (“SDGB”) a wholly owned subsidiary of the Company entered into a Share Sale Agreement to subscribe 34,537,581 ordinary shares representing approximately 10% equity interest in Green & Smart Holdings PLC for a consideration of RM13,000,000. vii) On 10 August 2018, the Group has acquired 200 ordinary shares in La Rapida SA via EMCO Holdings SA (“EH”), a wholly owned indirect subsidiary of the Company, representing 20% of shareholdings with purchase consideration of approximately RM6,020,230. viii) On 5 December 2018, SDIT a wholly owned indirect subsidiary of the Company entered into a Share Sale Agreement to subscribe 251,152 ordinary shares representing approximately 30% equity interest in eNoah iSolution India Private Limited. for a consideration of approximately RM14,940,000. N O T E S T O T H E F I N A N C I A L S TAT E M E N T