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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 67
In September 2021, we completed the sale of our For FY2021, the Group
wholly-owned subsidiary MSM Perlis Sdn Bhd for total
proceeds of RM181.11 million. The disposal is part of the declared a total dividend
Group’s ongoing exercise to dispose of non-core assets,
generating a gain of RM91.81 million, as mentioned of 3.0 sen per share
above. The proceeds were partly use to reduce our gearing
level by making additional repayments to term loan of amounting to RM21.09
RM100.00 million whilst the remaining proceeds was used
to fund capital expenditure in our MSM Johor refinery and
general working capital for the Group. The performance of million and equivalent to
MSM Perlis Sdn Bhd was classified as discontinued
operations and a sum of RM85.52 million of the gain on 17% of the FY2021 net
disposal is recorded as part of this segment’s performance.
profit of RM125.35 million.
