Kimlun Corporation Berhad Annual Report 2020

200901023978 (867077-X) 30. Other reserves 2020 2019 2020 2019 RM RM RM RM Foreign currency translation reserve At 1 January (71,039) (71,283) - - Foreign currency translation 6 244 - - At 31 December (71,033) (71,039) - - Warrant reserve At 1 January/31 December 34,193,668 34,193,668 34,193,668 34,193,668 Total other reserves 34,122,635 34,122,629 34,193,668 34,193,668 (a) Foreign currency translation reserve (b) Warrants reserve A total of 60,112,500 free warrants (''Warrants 2014/2024'') were issued by the Company on 13 March 2014. Each warrant entitles the holder to subscribe for 1 new share at the exercise price of RM1.68 per share at any time during the exercise period. The warrants have an exercise period of 10 years commencing 13 March 2014 and expiring on 12 March 2024. As at 31 December 2020, 58,954,600 (2019: 58,954,600) Warrants 2014/2024 remain unexercised. The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of a foreign operation whose functional currency is different from that of the Group's presentation currency. Group Company - 89 - Annual Report 2020 146 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020