Download - Tenaga Nasional Berhad

Tenaga Nasional Berhad 277 Annual Report 200937 REVALUATION AND OTHER RESERVES (CONT’D.)GroupCompany2009 2008 2009 2008RM’million RM’million RM’million RM’millionReserve on consolidationAs at the beginning/end of the financial year (146.6) (146.6) 0 0Employees’ Share Option Scheme reserveAs at the beginning of the financial year 62.8 35.7 56.2 30.8Arising in the financial year 26.3 27.1 25.2 25.4As at the end of the financial year 89.1 62.8 81.4 56.2Total revaluation and other reservesAs at the beginning of the financial year 718.2 894.9 981.7 1,021.3Arising in the financial year (107.4) (111.7) 25.2 25.4Realisation of revaluation reserve (17.8) (65.0) (17.8) (65.0)As at the end of the financial year 593.0 718.2 989.1 981.738 RETAINED PROFITSSubject to agreement by the Inland Revenue Board, the Company has sufficient tax credits under Section 108 of the Income Tax Act, 1967 available tofrank approximately RM1,374.9 million (2008: RM1,739.0 million) of its retained profits as at 31 August 2009, if paid out as dividends. The remainingprofits of RM14,518.5 million (2008: RM13,431.8 million) can be distributed as exempt dividends under the Single Tier Tax system.In addition, the Company has tax exempt income as at 31 August 2009 arising from the Income Tax (Amendment) Act, 1999, relating to tax on incomeearned in 1999 being waived and exempt dividend income amounting to approximately RM100.7 million (2008: RM247.3 million) available for distributionas tax exempt dividends to shareholders. This tax exempt income is subject to agreement by the Inland Revenue Board.