KUB Malaysia Berhad Annual Report 2021

40. SEGMENT INFORMATION (cont’d) A Inter-segment revenues are which eliminated on consolidation is as follows: Group 30.6.2021 31.12.2019 RM’000 RM’000 Dividend income 126,070 24,700 Management fees 4,972 5,406 ICT services 51 310 131,093 30,416 B Depreciation relates to property, plant and equipment, investment properties and right-of-use assets. Geographical information All of the Group’s revenue are derived from Malaysia. Information on major customers Included in revenues arising from the major customers are contract with Government and Government Linked Companies amounting to RM185,967,000 (31.12.2019: RM130,313,000). 41. SIGNIFICANT EVENTS Significant events during the financial period (a) The emergence of the Coronavirus Disease 2019 (‘COVID-19’) outbreak in early 2020 has brought about significant economic uncertainties in Malaysia within which the Group operates. Like any other businesses, certain divisions within the Group’s operations have been affected by the pandemic as a result of several measures taken by the Government to prevent the spread of COVID-19 through implementation of movement control order (‘MCO’) such as introduction of various standard operating procedures, closure of non- essential services as well as restricted domestic and international travelling. Notwithstanding the above, the Group is of the view that the results for the financial period ended 30 June 2021 have largely remained resilient and were not materially impacted by COVID-19. In addition, the healthy levels of solvency and liquidity of the Group and the Company are sufficient to sustain both their operational and financial requirements. The Group and the Company will continue monitoring the situation closely and will make appropriate decisions to undertake necessary measures to minimise the impact on the Group’s and the Company’s operations. (b) On 10 June 2020, KUB Agro Holdings Sdn Bhd, a wholly-owned subsidiary of KUB Ekuiti Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company, had entered into a conditional Sale and Purchase Agreement with Beradin Plantation Sdn Bhd for the disposal of two oil palm estates known as Kahang Estate and Sungai Yong Estate measuring in aggregate 2,656.16 hectares for a total cash consideration of RM158,000,000. (c) On 25 June 2020, the Company has disposed of its 40% equity interest in KUB Berjaya Enviro Sdn Bhd comprising 9,000,000 ordinary shares to Berjaya Group Berhad for a total cash consideration of RM80,000,000. (d) On 7 August 2020, a wholly-owned subsidiary of the Company, namely KUB Ekuiti Sdn Bhd (‘KUBE’), had entered into a joint venture arrangement with HFR, Inc., in relation to KUB Telekomunikasi Sdn Bhd (a wholly-owned subsidiary of KUBE) via the disposal of 5,600,000 ordinary shares representing 40% of the issued share capital of KUBTEL for cash consideration of RM7,200,000. (e) On 8 April 2021, the Company entered into a Share Sale Agreement with Tradewinds Plantation Berhad for the disposal of its 100% equity interest in KUB Malua Plantation Sdn Bhd comprising 10,000,000 ordinary shares for a total cash consideration of RM10,549,000 as determined at the completion date. The transaction was completed on 30 April 2021. NOTES TO THE FINANCIAL STATEMENTS 140 KUB MALAYSIA BERHAD