Note 49 for the principal activities of these companies. The Group’s profit after tax for the financial year ended 31 December 2023 would have been estimated at RM2,624.8 million if Spark Renewables has been consolidated from the beginning of the financial year. From the acquisition date up to 31 December 2023, Spark Renewables contributed a loss after tax of RM5.6 million. The transaction costs incurred for this acquisition was RM52.5 million. Details of the assets, liabilities and net cash outflow as at the date of the acquisition of this subsidiary by the Group during the financial year ended 31 December 2023 are as follows: Spark Renewables Book value RM’million Fair value RM’million Recognised amounts of identifiable assets acquired and liabilities assumed: - PPE (Note 5) 476.6 514.3 - Intangibleassets (Note 10) 2.4 429.3 - Derivative financial instruments 88.2 88.2 - Receivables, deposits and prepayments 7.4 7.4 - Deposits, bank and cash balances 3.0 3.0 - Other liabilities (5.1) (5.1) - Deferred tax liabilities (Note 12) (45.2) (184.6) T otal identifiable net assets 527.3 852.5 Provisional goodwill (Note 10) 332.4 T otal 1,184.9 Cash consideration paid 1,184.9 Cash and cash equivalents assumed (3.0) Net cash outflow on acquisition 1,181.9 The goodwill from the acquisition is provisionally determined at RM332.4 million (AUD110.0 million) and is expected to be finalised by the third quarter of 2024, within 12 months in accordance with MFRS 3 Business Combination. The goodwill is deemed to be attributable to Spark Renewable’s ability to develop and operate new renewable energy projects in Australia, as well as enhanced scale and operational diversity in its renewable projects portfolio. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 339 48 SIGNIFICANT ACQUISITIONS DURING CURRENT AND PRECEDING FINANCIAL YEARS (CONTINUED) Acquisitions during the financial year (continued) Subsidiaries acquired by the Group during the financial year ended 31 December 2023 is as follows: