Frontken Berhad Annual Report 2019

107 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 24 . RESERVES The Group The Company 2019 2018 2019 2018 RM RM RM RM Non-distributable:- Foreign currency translation reserve 29,781,778 27,672,528 - - Statutory reserve 13,008,627 9,110,850 - - Distributable:- Retained earnings 215,919,304 169,995,037 29,738,270 25,329,435 258,709,709 206,778,415 29,738,270 25,329,435 Foreign currency translation reserve Foreign currency translation differences arose from the translation of the financial statements of foreign subsidiaries and the Group’s share of an associate’s foreign currency translation differences are taken to the foreign currency translation reserve as described in the significant accounting policies. Statutory reserve The statutory reserve is maintained by the Group’s subsidiary in Taiwan in accordance with the regulations in that country. 25. TERM LOANS The Group 2019 2018 RM RM Current liabilities 843,865 3,914,913 Non-current liabilities - 7,533,055 843,865 11,447,968 The non-current portion is repayable as follows:- Later than one year but not later than five years - 7,533,055 (a) The term loans are secured by:- (i) legal charges over certain freehold land and buildings of the Group as disclosed in Note 11 to the financial statements; (ii) legal charges over the long-term leasehold land and buildings of the Group as disclosed in Notes 11 and 12 to the financial statements; (iii) corporate guarantees of the Company; and (iv) fixed deposits as disclosed in Note 17 to the financial statements. (b) During the financial year, certain term loans have been fully settled and the legal charges over the freehold land and buildings of the Group as per mentioned above (a)(i) have been discharged. Notes To The Financial Statements (cont’d)