Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 135 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 22. TREASURY SHARES The Group/The Company 2022 2021 2022 2021 Number of Shares RM RM At 1 January 9,201,250 5,466,600 4,747,849 663,237 Disposal - (305,900) - (35,558) Purchase - 1,460,200 - 4,120,170 Bonus issue - 2,580,350 - - At 31 December 9,201,250 9,201,250 4,747,849 4,747,849 In the previous financial year, the Company sold 305,900 of its treasury shares at an average price of RM5.43 per share in the open market and repurchased 1,460,200 of its ordinary shares from the open market at an average price of RM2.82 per share. The shares purchased are being held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 and are presented as a deduction from total equity. As at 31 December 2022, the Company held 9,201,250 (2021: 9,201,250) treasury shares at a carrying amount of RM4,747,849 (2021: RM4,747,849). As at 31 December 2022, the number of outstanding ordinary shares in issue after the set-off of 9,201,250 (2021: 9,201,250) treasury shares held by the Company is 1,570,951,425 (2021: 1,570,951,425) ordinary shares. 23. RESERVES The Group The Company 2022 2021 2022 2021 RM RM RM RM Non-distributable: Foreign currency translation reserve 39,624,182 54,276,576 - - Statutory reserve 33,862,259 24,517,262 - - Share grant plan reserve 4,183,700 - 4,183,700 - Distributable: Retained earnings 357,105,294 308,368,319 42,992,527 92,165,151 434,775,435 387,162,157 47,176,227 92,165,151 Foreign currency translation reserve The foreign currency translation reserve arose from the translation of the financial statements of foreign subsidiaries whose functional currencies are different from the Group’s presentation currency.
RkJQdWJsaXNoZXIy NDgzMzc=