Company: ARBB
Filing Date: 2025-10-31
Form Type: 20-F
Source: 0001213900-25-104705
Chunk: 145

Company: ARB IOT Group Ltd
Filing Date: 2025-10-31
Form: 20-F
Item: Item 19
Chunk 145
---
  Net assets upon acquired                                                                                       210,802  
  Less: NCI                                                                                                               
  Equity shares acquired                                                                                              49  
  Group’s share of net assets acquired                                                                           103,293  
  Less: Negative goodwill on consolidation recognized in consolidated statement of profit or loss               ( 54,293  
  Total fair value of consideration for the acquisitions                                                          49,000  
  Fair value consideration for the acquisitions                                                                   49,000  
  Less: Consideration paid                                                                                             -  
  Total consideration satisfied by cash                                                                           49,000  

F-38

23. BUSINESS COMBINATION (CONT’ D)

June 30, 2023

During financial year 2023, there were acquisitions
of ARB Synergy and its subsidiary, namely ARB Databook, collectively as Synergy Group.

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

                                                                          ARB  
  Fair value consideration for the acquisitions                             1  
  Less: Consideration paid in previous year as other investments      ( 1,296  
  Total consideration satisfied by cash                               ( 1,295  

The recognized provisional fair values of identifiable
assets and liabilities of subsidiaries at acquisition date were as follows:

  Cash and bank balances                                         1,297  
  Other receivables                                              1,975  
  Other payables and accruals                                 ( 51,069  
  Net assets                                                  ( 47,797  
  Non-controlling interests measured at fair value                   -  
  Group’s share of net assets                                 ( 47,797  
  Add: Goodwill on consolidation                                47,798  
  Total fair value of consideration for the acquisitions             1  

The fair value of the non-controlling interest
represents its share of the fair value of subsidiaries at the acquisition date, estimated using the purchase price allocation method.
The bargain purchase on business combination is not taxable for tax purpose.

  (b)      Disposal of equity interest in subsidiaries  

June 30, 2025

The strike-off companies are presented in Note
2.

F-39

23. BUSINESS COMBINATION (CONT’ D)

June 30, 2024

During the financial year, there are disposal
ARB Midware and its subsidiary, ARB Distribution (“ ARB Midware Group”).

The effects on the Group’s consolidated financial
statements is as follows:

                                                                                  ARB                     
                                                                                  Group                   
                                                                                  RM