ENRA Group Berhad Annual Report 2021

CORPORATE GOVERNANCE ENRA Group Berhad | Annual Report 2021 44 H. How we Manage our MSMs (Cont’d) 1. Material Economics Sustainability Matters (Cont’d) ii. Business development and expansion (Cont’d) ENRA is a learning organisation and due to its size, it is adaptive to the changing landscape of the economic sectors from which it operates. Over the years, we had hits and misses with business development and expansion which partly explains the results that we had. However, we remain resilient and resolute to ensure that we continue as a going concern with positive cashflow. A total of RM22.6 mil in dividends dividend has been paid to the shareholders over the years since the current controlling shareholders and management team took over. While the full list of business development opportunities (such as those that we have secured, were unsuccessful due to various reasons or are currently pursuing) are confidential, we can chronicle our milestones in TABLE 7 from FY2014/15 to FY2020/21 based on public information. TABLE 7 Investments / divestments Financial year Purchase consideration / Disposal proceed (RM’000) Agreement date / completion date Incorporation of two UK companies i.e. Perduren HoldingCompany LimitedandFitzroviaDevelopments Limited intended to carry out the property business in the UK for the Group. FY2014/15 immaterial 10.3.2015 Laying foundation for Energy Services division by incorporation of energy services companies like ENRA Energy, ENRA Kimia and ENRA Oil & Gas Services Sdn. Bhd. FY2015/16 immaterial 1.4.2015 Acquisition of 75% stake in Fitzrovia Developments Limited to enter into the UK property market with Portland Chambers project of redevelopment of office premises into four units of flats in Central London. FY2015/16 immaterial 14.4.2015 Incorporation of property development company, ENRA Labuan Sdn. Bhd. and ENRA Logistics Sdn. Bhd., ENRA Trading Sdn. Bhd. and ENRA SPM. FY2015/16 immaterial 15.6.2015 Disposal of 30% stake in Landmark Zone Sdn. Bhd., the developer of Shamelin Star project in Cheras. FY2015/16 8,300 8.12.2014/ 1.6.2015 Disposal of legacy subsidiaries in property investment, car park operations, hotel and recreation centre. FY2015/16 73,200 8.12.2014/ 1.7.2015 Acquisition of 60 acres of Labuan land (under sea water). FY2016/17 7,570 8.3.2017/ 21.8.2018 Disposal of Holiday Plaza & Shamelin Business centre assets and rental business via 6 agreements with buyers. FY2017/18 85,149 15.5.2017/ 6.7.2018 4+1-years contract worth approximately USD12.0 mil per year for provision of gas condensate storage and offloading facilities and services in Yetagun, Myanmar. FY2017/18 - 10.7.2017/ (until 25.4.22) SUSTAINABILITY REPORT