NOTE 5. DISCONTINUED OPERATIONS
On 1 July 2010, the Company entered into a conditional share purchase agreement with XYZ International Sdn. Bhd. for the disposal of its 100% equity interest in DEF Bottles and Containers Sdn. Bhd. (“DEF”) comprising 100,000 ordinary shares of RM1.00 each, representing the whole of the issued and fully paid-up share capital of DEF for a total cash consideration of RM700,000 and the settlement of the Intra-Group Loans owing by the DEF to the other companies within the Group.
The disposal was completed on 15 September 2010.
The analysis of the total gain on disposal, carrying values of the assets and liabilities disposed, and also the net cash inflow from the disposal were as follows:
The results of the disposal group, which represents the entire bottles and containers manufacturing and packaging business under DEF, and the cash flows from discontinued operations are disclosed under discontinued operations in the financial year ended 30 November 2010 and the comparative results have been restated accordingly.
Please click this for all the relevant disclosure in one place: Sample Disclosure Of Continuing And Discontinued Operations In One Place (27 January 2011)
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