Dagang NeXchange Berhad Annual Report 2018

27. ACQUISITION/INCORPORATION OF SUBSIDIARIES (CONTINUED) (b) Identified assets acquired and liabilities assumed Group 2018 Note RM’000 Property, plant and equipment 3 1,752 Other investments 1,056 Contract assets 111,687 Trade and other receivables 4,125 Cash and cash equivalents 5,436 Trade and other payables (72,976) Loans and borrowings 17 (62,124) Current tax liabilities (3,712) Deferred consideration (20,660) Deferred tax liabilities (200) Total identifiable net liabilities (35,616) (c) Net cash outflow arising from the acquisition of Genaxis Group Group 2018 RM’000 Purchase consideration settled in cash and cash equivalents (10,000) Cash and cash equivalents acquired 5,436 (4,564) (d) Goodwill arising from acquisition Group 2018 Note RM’000 Total consideration transferred 10,000 Fair value of identifiable net liabilities 35,616 Non-controlling interests, based on their proportionate interest in the recognised amounts of the assets and liabilities of the acquiree (29,900) Goodwill 4 15,716 The goodwill is attributable mainly to the skills and technical talent of Genaxis Group’s workforce, and the synergies to be achieved from integrating the subsidiaries into the Group’s existing Information Technology segment. None of the goodwill recognised is expected to be deductible for income tax purposes. 156 Dagang NeXchange Berhad Annual Report 2018 Notes to the Financial Statements (CONTINUED)