GPERAK-AnnualReport2009 (1MB).pdf - Bursa Malaysia

annual report 2009 | Gula peraK BerHaD (8104-X)
NOTES TO THE FINANCIAL STATEMENTS (Cont’d)
17. INvESTMENT IN SUBSIDIARy COMPANIES (Cont’d)
a) Disposal of subsidiaries
On 10th September, 2007, the Company entered into a Sales & Purchase Agreement with a third party for the disposal
of the entire 80,000,000 issued shares of RM1.00 each of Rumpun Dahlia Sdn. Bhd. for a total cash consideration of
RM45,000,000. The disposal was completed on 11th January, 2008.
The effects of the disposal of the subsidiary company in 2008 on the financial position of the Group are as follows:
2008
10 months
results
RM’000
Other operating income 100
Other operating expenses (717)
Loss for the year (617)
Attributable to:
Equity holders of the Company (617)
As of date
of disposal
RM’000
Net assets disposed of as of date of disposal:
Investment properties 63,000
Other receivables, deposits and prepayments 17
Bank balances 5
Other payables and accrued expenses (12,464)
Amount owing to holding company (10,282)
Amount owing to related company (801)
Hire purchase payables (66)
Net assets disposed of 39,409
Gain on disposal 5,591
Sales proceeds 45,000
Less: Sales proceeds outstanding included in other receivables (39,909)
Net inflow to the Company 5,091
Less: Cash and cash equivalent disposed of (5)
Net inflow to the Group 5,086
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