Notes To The Financial Statements 31 March 2024 (Cont’d) 129 FINANCIAL STATEMENTS & OTHERS 6. INVESTMENTS IN SUBSIDIARIES (CONT'D) (c) Changes in investment in subsidiaries during the financial year (Cont'd) Disposal of ENRA IOL Sdn. Bhd. (“EIOL”) The Company had on 8 August 2023 entered into Share Sale and Purchase Agreement with OZLUX Sdn Bhd ("OZLUX") to transfer its entire investment equivalent to 51% shares in EIOL for a cash consideration of RM1,200,000. The disposal resulted a gain of RM200,000 to the Company. Prior to the disposal, EIOL was jointly owned by the Company and OZLUX at 51% and 49% shares respectively. Following the completion on 16 August 2023, EIOL has effectively ceased to be the subsidiary of the Company. Profit attributable to the discontinued operations was as follows: Group 2024 RM’000 Results of discontinued operations Revenue - Other Income 18 Expenses (2) Results from operating activities 16 Taxation (4) Results from operating activities, net of tax 12 Gain on sale of discontinued operations 120 Profit for the financial year 132 Details of the assets, liabilities and net cash inflow arising from the disposal of EIOL during the financial year ended 31 March 2024 are as follows: As at date of disposal RM’000 Assets/(Liabilities) disposed: Contract cost 77 Trade and other receivables 361 Tax recoverable 51 Cash and cash equivalents 1,668 Trade and other payables (51) Non-controlling interests (1,026) Gain on disposal of a subsidiary 120 Disposal consideration 1,200 Cash and cash equivalents disposed (1,668) Net outflow from disposal of a subsidiary (468)
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