ACCOUNTABILITY | FINANCIAL STATEMENTS 323 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 45. SUMMARY OF EFFECTS OF ACQUISITION OF COMPANIES (CONTINUED) 2023 (continued) Company Refer to Note 19 for the acquisitions during the financial year. 46. SUMMARY OF EFFECTS OF DILUTION AND DISPOSAL OF COMPANIES 2024 Group There were no dilutions and disposals during the financial year. Company Refer to Note 19 for the dilution or disposal during the financial year. 2023 Group (i) On 30 March 2021, Green EV Charge Sdn. Bhd. (formerly known as Yinson EV Charge Sdn. Bhd.) (“GEVCSB”) was incorporated in Malaysia and was wholly owned by Yinson Green Technologies (M) Sdn. Bhd. (“YGTMSB”), an indirect wholly owned subsidiary of the Company. On 18 February 2022, YGTMSB, GEVCSB and Greentech Malaysia Alliances Sdn. Bhd. (“GTMA”) had entered into a joint venture and shareholders’ agreement (“Agreement”) for the subscription of new ordinary shares in GEVCSB for the purpose of undertaking the investment in electric vehicle charging infrastructure and ecosystem business in Malaysia. On 31 May 2022, YGTMSB has subscribed for additional 11,660,000 new ordinary shares in GEVCSB for a total consideration of RM11,660,000, while GTMA has subscribed for 5,000,000 new ordinary shares in GEVCSB for a total consideration of RM5,000,000. Upon completion of the allotment of new shares, YGTMSB and GTMA hold 11,700,000 and 5,000,000 ordinary shares, representing 70.06% and 29.94% equity interest of the enlarged share capital of GEVCSB, respectively. YGTMSB had, on 6 December 2022, issued the option notice to exercise the option for the subscription of an additional 10,000,000 new ordinary shares in GEVCSB for a total cash consideration of RM10 million. Upon completion of the allotment of 10,000,000 ordinary shares to YGTMSB on 14 December 2022, YGTMSB and GTMA hold 21,700,000 and 5,000,000 ordinary shares, representing 81.27% and 18.73% equity interest of the enlarged share capital of GEVCSB, respectively. The above changes in ownership interest of GEVCSB resulted in a net increase in non-controlling interest of RM5 million. Company Refer to Note 19 for the dilution or disposal during the financial year.
RkJQdWJsaXNoZXIy NDgzMzc=