Serba Dinamik Annual Report 2019

260 2019 ANNUAL REPORT FINANCIAL STATEMENTS SERBA DINAMIK HOLDINGS BERHAD 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 S 6. INVESTMENT IN ASSOCIATES - GROUP 2019 2018 RM’000 RM’000 Group Unquoted shares, at cost 149,523 97,538 Quoted shares, at cost 200,858 203,853 350,381 301,391 Share of post-acquisition reserve 32,160 4,696 Impairment loss ( 176) ( 176) 382,365 305,911 ========= ========= Market value Quoted shares 238,475 182,427 ========= ========= On 20 May 2019, the Group via SDIL, a wholly owned indirect subsidiary of the Company has subscribed 23,400 ordinary shares representing 30% shareholding in OMT S.r.l. (“OMT”) for a total cash consideration of EUR1,235,520. On 9 July 2019, the Group via SDIL, a wholly owned indirect subsidiary of the Company, has subscribed 13,111 ordinary shares representing 22.5% shareholding in Geppert GmBH (“Geppert”) for a total cash consideration of EUR5,000,000. The following subscription of ordinary shares of the associates have been completed during the year: (i) On 7 September 2018, the Group via SDIL, a wholly owned indirect subsidiary of the Company entered into a Share Purchase Agreement to acquire 450 ordinary shares representing 25% equity interest in Psicon BV for a total cash consideration of approximately RM1,929,400. The consideration has been paid as deposit in prior year. The subscription of ordinary shares was completed on 3 May 2019. (ii) On 16 October 2018, the Group via SDIL, a wholly owned indirect subsidiary of the Company entered into a Share Purchase Agreement to acquire 49% equity interest in OHP Ventures Incorporated for a total cash consideration of approximately RM3,325,200. An amount of RM3,308,800 has been paid as deposit in prior year. The subscription of ordinary shares was completed on 9 May 2019. (iii) On 31 October 2018, the Group via SDSB, a wholly owned indirect subsidiary of the Company entered into a Subscription Agreement to subscribe 366,013 ordinary shares of RM43.71 each representing approximately 42.26% equity interest in E&E Gas Sdn. Bhd for a total purchase consideration of RM16,000,000 which is to be settled via transfer of this piece of land held under SDSB totalling approximately 10 acres. The subscription of ordinary shares and the transfer of land was completed on 9 July 2019 (see Note 15).