BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

95
N O T E S T O T H E A C C O U N T S
30 APRIL 1998
20 SHARE CAPITAL (CONTINUED)
Group and Company
1998 1997
RM’000 RM’000
Issued and fully paid
At 1 May 877,214 847,904
Issued during the year from conversion of ICULS 337,777 25,008
Staff Share Options exercised 771 4,302
At 30 April 1,215,762 877,214
21 RESERVES
Non distributable
Group
Company
1998 1997 1998 1997
RM’000 RM’000 RM’000 RM’000
Share premium 672,618 334,496 672,618 334,496
Capital reserves 149,329 89,738 - -
Foreign currency translation reserve 60,779 10,563 - -
Distributable
Profit and loss account 541,686 575,114 475,717 456,359
1,424,412 1,009,911 1,148,335 790,855
Movement in reserves
Group
Group and Company
Foreign
currency
translation Capital Share
reserve reserves premium
RM’000 RM’000 RM’000
At beginning of the financial year 10,563 89,738 334,496
Exchange difference on translation of
net assets of foreign subsidiary
companies and associated companies 49,840 - -
Reserves on acquisition of shares
in subsidiary companies - 90,307 -
Realised on disposal and dilution - (22,730) -
Share premium arising from issuance
of new shares - - 338,436
Share issue expenses - - (314)
Transfer to profit and loss account 376 (7,986) -
At end of the financial year 60,779 149,329 672,618
Transfer to profit and loss account represents the realisation of reserves on disposal and dilution of subsidiary
companies and associated companies.
Subject to the agreement of the Inland Revenue Board, the Company has sufficient tax credit under Section
108 of the Income Tax Act 1967 to frank up to approximately RM9,068,000 of the retained profits as
dividends in future. Should the entire retained profits be franked as dividends, the Company will have a
Section 108 charge of approximately RM181,474,000.