18. INVESTMENTS IN SUBSIDIARIES (CONT’D.) Financial information of subsidiaries that have material non-controlling interests are provided below. The financial information presented below are amounts before inter-company elimination: (cont’d.) (iii) Summarised statements of cash flows TISB TISB TDBSB TDBSB TSDSB TSDSB LWBSB LWBSB 2022 2021 2022 2021 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Net cash generated from/ (used in) operating activities 10,352 (109,536) (2,454) (972) (559) (229) (5,111) 6,816 Net cash (used in)/generated from investing activities (892) (442) (15) (14) – – – 19 Net cash (used in)/generated from financing activities (9,540) 127,878 – (5) – – – (7,387) Net (decrease)/increase in cash and cash equivalents (80) 17,900 (2,469) (991) (559) (229) (5,111) (552) Cash and cash equivalents at beginning of financial year 82,785 64,885 13,157 14,148 597 826 5,400 5,952 Cash and cash equivalents at end of financial year 82,705 82,785 10,688 13,157 38 597 289 5,400 (a) Group restructuring During the financial year, the Group and the Company executed and completed an internal Group restructuring scheme involving the following: (i) On 4 January 2022, the Company acquired the balance of 4,900,000 ordinary shares in Tropicana SJII Education Management Sdn Bhd (“TSEM”) for a total cash consideration of RM4,900,000. Following the completion of the acquisition, TSEM has become a wholly-owned subsidiary of the Company. The additional interest acquired in TSEM is as follows: RM’000 Cash consideration paid to non-controlling shareholders 4,900 Carrying value of the additional interest in TSEM 17,834 Difference recognised in retained earnings 22,734 (ii) On 24 January 2022, the Company divested its 1 ordinary share in Tropicana Property Services Sdn Bhd (“TPSSB”) representing 100% of the total paid-up capital, for a total cash consideration of RM1 to Megaxis Sdn Bhd (“MSB”). Accordingly, TPSSB has become a wholly-owned subsidiary of MSB, which in turn is an indirect wholly-owned subsidiary of the Company. (iii) On 14 February 2022, the Company had incorporated a wholly-owned subsidiary, Tropicana Entertainment and Retail Sdn Bhd with 1 ordinary share representing 100% of total paid-up capital, for a total cash consideration of RM1. (iv) On 20 June 2022, the Company had incorporated a wholly-owned subsidiary, Tropicana Solar Sdn Bhd with 1 ordinary share representing 100% of total paid-up capital, for a total cash consideration of RM1. 229 FINANCIAL STATEMENTS & OTHER INFORMATION
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