Company: ARBB
Filing Date: 2025-10-31
Form Type: 20-F
Source: 0001213900-25-104705
Chunk: 144

Company: ARB IOT Group Ltd
Filing Date: 2025-10-31
Form: 20-F
Item: Item 19
Chunk 144
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 financial statements respectively.

F-37

23. BUSINESS COMBINATION

  (a)      Acquisition of equity interest in subsidiaries  

On July 15, 2024, AIGSB acquired ARB
Synergy through trust deed with Liew Kok Leong (“ Trustee”), whereby Trustee is a registered holder of1ordinary share representing100% of the issued and paid-up share capital of ARB Synergy, whereby is held by Trustee on trust for AIGSB. Subsequently, ARB Databook,
the wholly-owned subsidiary of ARB Synergy became wholly-owned subsidiary of AIGSB.

The fair value of consideration transferred and
the effects on cash flows of the acquisitions of subsidiaries are as follows:

June 30, 2025

                                                                    ARB      ARB           Total                 
                                                                Synergy      Databook                            
                                                                     RM      RM            RM                    
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net assets upon acquired                                      ( 9,454      ( 49,947                 ( 59,401   
  Less: NCI                                                           -      -                                   
  Equity shares acquired                                            100      100                      100        
  Group’s share of net assets acquired                          ( 9,454      ( 49,947                 ( 59,401   
  Add: Goodwill on consolidation                                 59,401      -                        59,401     
  Total fair value of consideration for the acquisitions         49,947      ( 49,947                 -          
  Fair value consideration for the acquisitions                  49,947      ( 49,947                 -          
  Less: Consideration paid                                     ( 49,947      49,947                   -          
  Total consideration satisfied by cash                               -      -                        -          
  Less: Cash and cash equivalents of subsidiaries             ( 105,619      -                        ( 105,619  
  Cash inflow from acquisitions of subsidiaries               ( 105,619      -                        ( 105,619  

June 30, 2024

In the previous financial year 2024, ARB Techsymbol
acquired ARB WMS additional ordinary shares of49,000@ RM1per share, from BCSSoft. Subsequently, ARB WMS became wholly-owned subsidiaries
of ARB Techsymbol.

The fair value of consideration transferred and
the effects on cash flows of the acquisitions of subsidiaries were as follows:

                                                                                                       ARB                
                                                                                                       RM