Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 325 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. INVESTMENT IN ASSOCIATES Group 2023 RM’000 2022 RM’000 Unquoted shares, at cost In Malaysia 5,730 5,730 5,730 5,730 Share of post-acquisition reserves 75,182 71,416 Less: Dividend received (9,080) (4,800) 71,832 72,346 In the previous financial year, the Company announced that its wholly-owned subsidiary, Edgenta Facilities Sdn. Bhd. (“EFSB”), entered into a Share Purchase Agreement with Apollo Sindoori Holdings Limited (“ASHL”) for the disposal of EFSB’s entire 47,113 equity shares in Faber Sindoori Management Services Pte. Ltd. (“FSPL”), which represented 51% of the paid-up share capital of FSPL for a sale consideration of INR700 million (equivalent to approximately RM39.1 million based on exchange rate on completion date). 2022 RM’000 Cash consideration *39,062 Less: Net carrying amount of FSPL upon disposal (39,313) Loss on disposal of FSPL (251) * Difference of cash consideration above with actual cash receipt disclosed in the Statement of Cash Flows is due to realised foreign exchange losses. Further details of the associates are disclosed in Note 47.
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