92 MSC BERHAD Notes to the Financial Statements (cont’d) 17. Share Capital Group and Company Number of shares Amount 2024 2023 2024 2023 Units Units RM RM Issued and fully paid ordinary shares At 1 July 559,378,375 559,378,375 81,176,480 81,176,480 Issuance of shares 50,500,000 - 16,917,500 - At 30 June 609,878,375 559,378,375 98,093,980 81,176,480 On 27 February 2024, the Company issued 50,500,000 new ordinary shares at issue price of RM0.335 per share, total value at RM16,917,500 as partial discharge of the purchase consideration for an acquisition of a subsidiary company during the financial year. The new ordinary shares issued during the financial year shall rank pari passu in all respects with the existing ordinary shares of the Company. The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company’s residual assets. 18. Reserves Group Company 2024 2023 2024 2023 Note RM RM RM RM Non-distributable Fair value reserve (a) 2,800,200 (4,680,592) 2,800,200 (4,680,592) Other reserve (b) (80,745) (80,745) - - Foreign currency translation reserve (c) (2,793) - - - Distributable Retained earnings (d) 27,321,288 20,480,477 21,472,461 21,240,434 30,037,950 15,719,140 24,272,661 16,559,842 (a) Fair value reserve Fair value reserve represents the cumulative net change in the fair value of investment in securities measured at fair value through other comprehensive income until they are derecognised or impaired. (b) Other reserve Other reserve represents the difference between the Group’s share of net assets before and after the acquisition of equity interest from its non-controlling interests. (c) Foreign currency translation reserve The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency. (d) Retained earnings The entire retained earnings of the Company are available for distribution as single-tier dividends.
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