Elmera Berhad acquired 4.8 million shares of Dairy Berhad's equity shares on 1 January 2016. The retained profit of Dairy Berhad on the date of acquisition was RM3.6 million with the total number of ordinary shares of 6 million. Besides that, the fair values of Dairy's noncurrent assets at the acquisition date were equal to their carrying amounts with the following exceptions:

(a) An item of plant had a fair value of RM576,000 above its carrying amount. At the date of acquisition, it had carrying amount of RM3,024,000 with the remaining life of 9 years.

(b) Furniture had a fair value of RM1,120,000 with an estimated remaining life of 7 years. This fair value was RM280,000 higher than the carrying amount at the date of acquisition.