46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONTINUED) The internal reorganisation which entailed the disposal by BHB of its entire shareholdings in BIMB Securities (Holdings) Sdn. Bhd. (“BIMB SEC HOLDINGS”), BIMB Securities Sdn. Bhd. (“BIMB SEC”) and Syarikat Al Ijarah Sdn. Bhd. (“SASB”) to the Bank was completed on 13 September 2021 following the payment made by the Bank. Identified companies Sale shares/% Purchase consideration (RM’000) BIMB SEC HOLDINGS 5,000,000 ordinary shares and 45,000,000 preference shares/100% 37,667 BIMB SEC 49,000,000 ordinary shares/49% 34,909 SASB 10,000,000 ordinary shares/100% 12,804 Total 85,380 The Group has adopted predecessor accounting and only incorporate the acquired entity’s results and statements of financial position prospectively from the date on which the business combination between entities under common control occurred. Accordingly, the corresponding amounts for the previous year are also not restated. The differences between the consideration given and the aggregated carrying amounts of the assets and liabilities (as of the date of transaction) of the acquired entities are recorded as an adjustment to equity. No additional goodwill/gain on bargain purchased is recognised. Transfer of the identified companies are as follows: BIMB SEC HOLDINGS RM’000 BIMB SEC RM’000 SASB RM’000 ASSETS Cash and short-term funds 16 41,693 105 Deposits and placements with financial institutions 1,342 25,575 – Financial assets at fair value through profit or loss – 2,048 11,698 Other financial assets at amortised cost – 46,190 – Current tax assets – 329 – Right-of-use assets – 541 – Property and equipment – 1,507 624 TOTAL ASSETS 1,358 117,883 12,427 LIABILITIES Other liabilities 10 19,933 69 Lease Liabilities – 597 – Zakat and taxation 1 – 3 TOTAL LIABILITIES 11 20,530 72 Net assets transferred to the Group 1,347 97,353 12,355 Total purchase consideration (37,667) (34,909) (12,804) Difference between purchase consideration and the net assets transferred to the Group (as at the date of transaction) recognised in Equity) (36,320) 62,444 (449) BANK I SLAM MALAYS IA BERHAD NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2021 372
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