DISPOSAL OF A SUBSIDIARY
During the financial year, the Company disposed of its subsidiary company, ABC Sdn. Bhd.. The fair values of assets and liabilities disposed are as follows:
2009 |
|
RM |
|
Property, plant and equipment |
5,500,000 |
Receivables |
1,200,000 |
Cash and cash equivalents |
135,000 |
Payables |
(1,500,000) |
Tax recoverable |
900,000 |
Total net assets disposed |
6,235,000 |
Goodwill on consolidation |
500,000 |
Minority interests |
(200,000) |
Transfer from translation reserves |
(400,000) |
Gain on disposal of the subsidiary |
1,365,000 |
Total disposal proceeds |
7,500,000 |
Cash and cash equivalents in subsidiary disposed of |
(135,000) |
Net cash inflow to the Group |
7,365,000 |
|
|
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