Kimlun Corporation Berhad Annual Report 2018

Kimlun Corporation Berhad 67 Attributable to owners of the Company Non-Distributable Distributable Non-Distributable Foreign Other currency Non Note Equity, Share Share Treasury Retained reserves Warrant translation Controlling total capital premium shares earnings total reserve reserve Interest (Note 25) (Note 25) (Note 25) (Note 26) (Note 27) (Note 27) Group RM RM RM RM RM RM RM RM RM Opening balance at 1 January 2017 539,262,844 155,144,969 47,971,016 (23,774) 301,357,225 34,815,213 34,865,250 (50,037) (1,805) Profit net of tax 68,337,857 - - - 68,483,747 - - - (145,890) Foreign currency translation (20,549) - - - - (20,549) - (20,549) - Total comprehensive income for the year 68,317,308 - - - 68,483,747 (20,549) - (20,549) (145,890) Transactions with owners Issuance of ordinary shares pursuant to: Dividend reinvestment plan of the Company 25 18,399,606 18,399,606 - - - - - - - Conversion of warrants 25 1,772,736 2,384,752 - - - (612,016) (612,016) - - Share issuance expenses (82,522) (82,522) - - - - - - - Issuance of shares to non-controlling interest 299,996 - - - - - - - 299,996 Dividends on ordinary shares 34 (20,177,730) - - - (20,177,730) - - - - Transition to no-par value regime* - 47,971,016 (47,971,016) - - - - - - Total transactions with owners 212,086 68,672,852 (47,971,016) - (20,177,730) (612,016) (612,016) - 299,996 Closing balance at 31 December 2017 607,792,238 223,817,821 - (23,774) 349,663,242 34,182,648 34,253,234 (70,586) 152,301 * Effective from 31 January 2017, the Companies Act 2016 ("the Act") abolished the concept of authorised share capital and par value of share capital. Consequently, the amount standing to the credit balance of share premium became a part of the Company's ordinary share capital pursuant to the transitional provision set out in Section 618(2) of the Act. Notwithstanding this provision, the Company may within 24 months from the commencement of the Act, use this amount for purposes as set out in Section 618(3) of the Act. There is no impact on the number of ordinary shares in issue or the relative entitlement of any members of the Company as a result of this transition. STATEMENTS OF CHANGES IN EQUITY For the financial year ended 31 December 2018 (cont’d) The accompanying accounting policies and explanatory notes form an integral part of the financial statements.