Section 8 UEM Edgenta Berhad FINANCIAL STATEMENTS 382 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 44. SIGNIFICANT EVENTS (CONTD.) (a) Arising from the business combination, the Company performed a purchase price allocation exercise resulting in the recognition of intangible assets relating to customer contract and customer relationships of RM1.3 million and RM0.5 million, respectively. The effect of the acquisition on cash flows was as follows: RM’000 Purchase consideration satisfied by cash 12,933 Cash and cash equivalent of the subsidiary acquired 13,327 Net cash inflow on acquisition of the subsidiary at acquisition date 394 The effect of the acquisition on the financial results of the Group from the date of acquisition to 31 December 2023 is as follows: RM’000 Revenue 31,767 Profit for the year 180 (b) On 2 December 2023, Edgenta International Investments L.L.C (“EII”), an indirect wholly-owned subsidiary of the Company, entered into a Sale and Purchase Agreement with NW Kaizen Holding Limited for the proposed acquisition of 60% equity interest in Kaizen Owner Association Management Services L.L.C (“KOA”) and Kaizen AMS Property Supervision L.L.C (“KAMS”). As at 31 December 2023, the transaction has no financial impact to the Group and the Company. 45. SUBSEQUENT EVENTS The transaction as described in Note 44(b) has been completed on 7 February 2024. 46. SIGNIFICANT CONTINGENT LIABILITIES As at 31 December 2023, there are no significant contingent liabilities since the material litigation cases previously disclosed as contingent liabilities in the previous financial years have been resolved.
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