ANNUAL REPORT 2015 |
159
NOTES TO THE FINANCIAL STATEMENTS
30 June 2015 (cont’d)
18. RESERVES
Group
Company
2015
2014
2015
2014
RM’000
RM’000
RM’000
RM’000
Non-distributable
Share premium
-
476
-
476
Available-for-sale reserve
(12)
(12)
-
-
Exchange translation reserve
3,745
672
-
-
Treasury shares
-
(1,706)
-
(1,706)
3,733
(570)
-
(1,230)
Distributable
Retained earnings
182,211
246,270
9,156
108,418
185,944
245,700
9,156
107,188
(a) Available-for-sale reserve
The reserve arose from gains or losses of financial assets classified as available-for-sale.
(b) Exchange translation reserve
The exchange translation reserve is used to record foreign currency exchange differences arising from the translation of
the financial statements of foreign operations whose functional currencies are different from that of the presentation
currency of the Group. It is also used to record the exchange differences arising from monetary items which form part of
the net investment of the Group in foreign operations, where the monetary item is denominated in either the functional
currency of the reporting entity or the foreign operation.
(c) Treasury shares
In the previous financial year, the Company repurchased 507,000 of its own ordinary shares of RM0.50 each from the
open market of Bursa Malaysia Securities Berhad pursuant to the Shareholders’Authorisation 2013. The total amount paid
was RM1,706,787 (including transaction costs of RM7,577) at an average price of RM3.35 per ordinary share and this was
presented as a component within shareholders’equity. The repurchase transactions were financed by internally generated
funds. The shares repurchased were being held as treasury shares in accordance with the requirements of Section 67A of
the Companies Act, 1965 in Malaysia with no rights to voting, dividends or participation in other distribution.
In July 2014, the 507,000 treasury shares held as at the end of the financial year 2014, were resold to the market. The total
consideration received was RM2,712,151 (net of transaction costs of RM9,722) at an average price of RM5.37 per ordinary
share.
No purchase, resale or cancellation of the Company’s own shares was carried out under the Shareholders’ Authorisation
2014 during the financial year ended 30 June 2015.
