Sample Disclosure – Note On Disposal Of Subsidiary (1 October 2009)

DISPOSAL OF A SUBSIDIARY

During the financial year, the Company disposed of its subsidiary company, ABC Sdn. Bhd.. The fair values of assets and liabilities disposed are as follows:

 

2009

 

RM

Property, plant and equipment

5,500,000

Receivables

1,200,000

Cash and cash equivalents

135,000

Payables

(1,500,000)

Tax recoverable

900,000

Total net assets disposed

6,235,000

Goodwill on consolidation

500,000

Minority interests

(200,000)

Transfer from translation reserves

(400,000)

Gain on disposal of the subsidiary

1,365,000

Total disposal proceeds

7,500,000

Cash and cash equivalents in subsidiary disposed of

(135,000)

Net cash inflow to the Group

7,365,000

 

 

 

 

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