Kimlun Corporation Berhad Annual Report 2018

Kimlun Corporation Berhad 69 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. Attributable to owners of the Company Non-Distributable Distributable Non-Distributable Equity Share Share Treasury Retained Warrant Note total capital premium shares earnings reserves (Note 25) (Note 25) (Note 25) (Note 26) (Note 27) Company RM RM RM RM RM RM Opening balance at 1 January 2017 238,752,672 155,144,969 47,971,016 (23,774) 795,211 34,865,250 Total comprehensive income 19,818,753 - - - 19,818,753 - Transaction 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) Share issuance expenses (82,522) (82,522) - - - - Dividends on ordinary shares 34 (20,177,730) - - - (20,177,730) - Transition to no-par value regime* - 47,971,016 (47,971,016) - - - Total transaction with owners (87,910) 68,672,852 (47,971,016) - (20,177,730) (612,016) Closing balance at 31 December 2017 258,483,515 223,817,821 - (23,774) 436,234 34,253,234 * 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.