Dagang NeXchange Berhad Annual Report 2018

26. DIVIDENDS Dividends recognised by the Company: Total amount Sen per share RM’000 Date of payment 2017 Interim 2017 ordinary 0.5 8,766 2 October 2017 A final dividend of 0.5 sen per ordinary share totaling RM8,790,177 was recommended by the Directors in respect of the financial year ended 31 December 2018 will be proposed for shareholders’ approval at the forthcoming Annual General Meeting. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for as a liability in the financial year ending 31 December 2019. 27. ACQUISITION/INCORPORATION OF SUBSIDIARIES During the financial year, the Group acquired/incorporated: (i) a 51% equity interest in DNeX VMS Sdn. Bhd. (“DNeX VMS”) comprising 100,000 ordinary shares for a total cash consideration of RM51,000 which represents 51% issued and paid up capital of DNeX VMS. The non-controlling interests of DNeX VMS are measured at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets at the date of acquisition. (ii) a 99% equity interest in PT Dagang Net Indonesia (“PT Dagang”) comprising 2,500 shares for a total cash consideration of IDR2,500,000,000 (RM708,321). (iii) a 100% equity interest in DNeX Clean Utilities Sdn. Bhd. (“DCU”) comprising 100,000 ordinary shares for a total cash consideration of RM100,000. (iv) a 51% equity interest in Genaxis Group Sdn. Bhd. comprising 510,000 ordinary shares and a 60% equity interest in Innovation Associates Consulting Sdn. Bhd. through Genaxis Group Sdn. Bhd. (collectively known as “Genaxis Group”) to be satisfied by a total cash consideration of RM10,000,000. The following summarises the major classes of consideration transferred, and the recognised amounts of assets acquired and liabilities assumed of Genaxis Group at the acquisition date: (a) Fair value of consideration transferred Group 2018 RM’000 Cash and cash equivalents 10,000 155 Annual Report 2018 Notes to the Financial Statements (CONTINUED) FINANCIAL STATEMENTS