Registration No. 200301030845 (633265-K) - 84 - 6. Investment in Subsidiaries (Cont’d) (b) Acquisition of subsidiaries (Cont’d) During the financial year (Cont’d) (ii) Fair value of the identifiable assets acquired and liabilities recognised (Cont’d): Gain on bargain purchase The fair value of the identifiable net assets acquired of RM56,990 exceeded the consideration transferred of RM1, resulting in a gain on bargain purchase of RM56,989 which has been recognised in profit or loss within other income. The gain arose as the vendor disposed of the entity, whose assets comprised cash and bank balances, for a nominal consideration. No goodwill arose from the acquisition. Acquisition-related costs Acquisition-related costs have been expensed to profit or loss in the period incurred in accordance with MFRS 3. These costs primarily relate to professional and advisory fees associated with the transaction. (iii) Effects of acquisition on cash flows: 2026 RM Fair value of consideration transferred 1 Less: Non-cash consideration - Consideration paid in cash 1 Less: Cash and cash equivalents of a subsidiary acquired (60,000) Net cash inflows on acquisition (59,999) (iv) Effects of acquisition in statements of comprehensive income: From the date of acquisition, the subsidiary's contributed loss net of tax is as follows: 2026 RM Loss for the financial year (62,069) DESTINI BERHAD 197 ANNUAL REPORT 2026
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