NOTES TO THE FINANCIAL STATEMENTS
For The Financial Period From 1 January 2014 To 31 March 2015 (Cont’d)
102
Annual Report 2015
38. ACQUISITION OF SUBSIDIARIES
During the financial period, the Group acquired an 99.45% equity interest in DMSB together with its
wholly-owned subsidiary, CASB.
The fair values of the identifiable assets and liabilities of the subsidiaries at the date of acquisition
were:-
At Date Of Acquisition
Carrying
Fair Value
Amount
Recognised
RM’000
RM’000
Equipment
1,830
1,830
Inventories
2,056
2,056
Trade receivables
33
33
Other receivables and deposits
9,698
9,698
Cash and cash equivalents
4,975
4,975
Trade payables
(315)
(315)
Other payables and accruals
(453)
(453)
Amount owing to a director
(1)
(1)
Net identifiable assets and liabilities
17,823
17,823
Less: Non-controlling interests
(98)
Add: Goodwill on acquisition
4,153
Total purchase consideration
21,878
Less: Cash and cash equivalents of subsidiaries acquired
(4,975)
Net cash outflow for acquisition of subsidiaries
16,903
The non-controlling interests are measured at the non-controlling interests’ proportionate share of
the fair value of acquiree’s identifiable net assets at the date of acquisition.
The acquired subsidiaries have contributed the following results to the Group:-
Group
16.7.2014
1.1.2013
to
to
31.3.2015
31.12.2013
RM’000
RM’000
Revenue
512
–
Loss after taxation
5,168
–
If the acquisition had taken place at the beginning of the financial year, the Group’s revenue and
profit after taxation from continuing operations would have been RM285,613,000 and RM71,652,000
respectively.
