PRG Holdings Berhad Annual Report 2018

115 9. INVESTMENTS IN SUBSIDIARIES (continued) (e) In the previous financial year (continued): (xiii) Effects of the partial disposal of Furnitech are as follows (continued): The gain on partial disposal of Furnitech in the previous financial year is as follows: 2017 RM’000 Total identifiable assets 12,803 Total identifiable liabilities (13,918) Total identifiable net liabilities (1,115) Non-controlling interests 201 Fair value of retained equity interest (5,566) (6,480) Less: Exchange translation reserve reclassified to profit or loss (305) Total identifiable net liabilities and reserve (6,785) Less: Proceeds from partial disposal (39) Gain on partial disposal (6,824) (xiv) On 16 October 2017, PRGPSB disposed its entire 90% equity interest in PABG to PADSB for a cash consideration of RM9.00. The partial disposal resulted in a gain of RM3,000 to the Group. (xv) On 25 August 2017, PRGCSB, PMSB and CPHL (HK) Limited (“CPHL”) (collectively known as “the Parties”) entered into a Shareholders’ Agreement. The Parties had agreed that CPHL and PRGCSB shall subscribe for such number of shares in PMSB such that their shareholdings in PMSB shall be with CPHL owning 75% and PRGCSB owning 25%. PMSB had, on 20 September 2017, increased its share capital from RM1.00 to RM100 vide the allotment of additional 75 and 24 new ordinary shares to CPHL and PRGCSB respectively. On 7 November 2017, PMSB increased its share capital from RM100 to RM1,000,000 vide the allotment of additional 749,925 and 249,975 new ordinary shares to CPHL and PRGCSB respectively. (xvi) On 27 September 2017, PJPC, PADSB and SPNB Aspirasi Sdn. Bhd. (“SASB”) (collectively known as “the Parties”) entered into a Shareholders’ Agreement (“SA”). The Parties had agreed that SASB and PJPC shall subscribe for such number of shares in PADSB such that their shareholdings in PADSB shall be with SASB owning 51% and PJPC owning 49%. PADSB had, on the same day, increased its share capital from RM1.00 to RM100.00 vide the allotment of additional 51 and 48 new ordinary shares to SASB and PJPC respectively. PRG HOLD I NGS BERHAD notes to the financial statements 31 December 2018 (continued)