On 1 October 2021, PQ Berhad bought 70% holding in the equity of ST Berhad...
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On 1 October 2021, PQ Berhad bought 70% holding in the equity of ST Berhad for a price was at RM2.60 per unit, share capital was RM300,000,000, retained earnings was adjustment for the fair value of the freehold land at the value of RM50,000,000. The group policy is to apply the fair value to measure the non-controlling interest. The financial statements of PQ Berhad and its subsidiary for the year ended 30 September 2022 were presented below: Statement of Profit or Loss and Other Comprehensive Income Statement of Financial Position 7 BKAR3043 Financial Accounting \& Reporting IV Impairment losses of RM4 million were deemed to have arisen by 30 September 2022 in respect of goodwill other expenses account. 2. During the financial year ended 30 July 2022 , ST Berhad had sold goods to PQ Berhad amounting to RM15,000,000. The profit margin is 20% on selling price. Of 8
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