MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 212 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 24. TREASURY SHARES The Group/The Company 2021 2020 Number of Shares Treasury Shares Number of Shares Treasury Shares ’000 RM’000 ’000 RM’000 At 1 January 53,665 61,652 140,165 144,743 Buy back 49,337 77,929 26,000 30,914 Bonus issue 91,001 - - - Cancellation (182,003) (127,217) (112,500) (114,005) At 31 December 12,000 12,364 53,665 61,652 During the financial year, the Company purchased 49,336,800 (2020 - 25,999,600) of its issued ordinary shares from the open market at an average price of RM1.58 (2020 - RM1.19) per share. The total consideration paid for the shares purchased was RM77,929,074 (2020 - RM30,914,378) including transaction costs. The ordinary shares purchased were held as treasury shares in accordance with Section 127(6) of the Companies Act 2016. In addition, the Company had cancelled 182,003,000 of its treasury shares at an average price of RM0.70 with a total carrying amount of RM127,217,241. As at the end of the reporting year, the Company held as treasury shares a total of 12,000,000 of its 7,408,616,642 issued and fully paid-up ordinary shares. The treasury shares are held at a carrying amount of RM12,364,074. 25. RESERVES The Group The Company 2021 2020 2021 2020 Note RM’000 RM’000 RM’000 RM’000 Fair value reserve (a) 6,401 6,401 - - Foreign exchange translation reserve (b) 19 20 - - Retained profits 698,112 570,191 379,762 537,842 704,532 576,612 379,762 537,842 (a) Fair Value Reserve The fair value reserve represents the cumulative fair value changes (net of tax, where applicable) of investments designated at fair value through other comprehensive income. (b) Foreign Exchange Translation Reserve The foreign exchange translation reserve arose from the translation of the financial statements of a foreign subsidiary and the Group’s share of an associate’s and joint ventures’ foreign currency translation differences whose functional currencies are different from the Group’s presentation currency.
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