Pg 147 - Berjaya Corporation Berhad

Berjaya Land Berhad (201765-A)
Annual Report 2005
71
21 RESERVES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Non-distributable:
Exchange reserve (Note a) 73,293 68,349 - -
Distributable:
Retained profits (Note b) 1,646,909 1,537,540 1,878,438 1,841,205
1,720,202 1,605,889 1,878,438 1,841,205
Group
2005 2004
RM’000 RM’000
Notes:
(a) Exchange reserve
At 1 May 2004/2003 68,349 54,455
Current year movement 4,944 13,894
At 30 April 2005/2004 73,293 68,349
(b)
Retained profits
The Company has tax exempt income of RM97,486,000 (2004 : RM97,486,000) available for distribution as tax exempt dividend
and based on the estimated tax credits available, approximately RM713,462,000 (2004 : RM612,295,000) of the retained profit of
the Company is available for distribution by way of dividend without incurring additional tax liability. Any distribution of dividend in
excess of this amount will attract tax charge at the prevailing statutory tax rate.
22 5% IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS (“ICULS 1999/2009”)
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
ICULS 1999/2009 at nominal value of RM1.00 each:
At 1 May 2004/2003 588,659 640,993 894,449 894,457
Less: Amount converted into ordinary shares (1,444) (8) (1,444) (8)
Less: Purchased by a subsidiary company (152,677) (52,326) - -
At 30 April 2005/2004 434,538 588,659 893,005 894,449
The Company’s ICULS 1999/2009 at nominal value of RM1.00 each are constituted by a Trust Deed dated 21 December 1999 between
the Company and the Trustee for the holders of the ICULS 1999/2009.
The main features of the ICULS 1999/2009 are as follows:
(a)
The ICULS 1999/2009 shall be convertible into ordinary shares of the Company during the period from 31 December 1999 to the
maturity date on 30 December 2009 at the rate of RM1.60 nominal value of ICULS 1999/2009 or at the rate of RM1.00 nominal value
of ICULS 1999/2009 plus RM0.60 in cash for every one new ordinary share of RM1.00 each.