Ni Hsin Berhad Annual Report 2017

11. Share capital and reserves (continued) 11.3 Fair value reserve The fair value reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the investments are derecognised or impaired. The financial assets are the club memberships (Note 9.1). 11.4 Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of the Group entities with functional currencies other than RM, as well as from the translation of liabilities that hedge the Company’s net investment in foreign operations. 11.5 Property revaluation reserve Property revaluation reserve arises from the revaluation of property in the previous financial year. 11.6 Share option reserve The share option reserve comprises the cumulative value of Directors and employee services received for the issue of share options by the Group. When the option is exercised, the amount from the share option reserve is transferred to share capital. When the share options expire, the amount from the share option reserve is transferred to retained earnings. 11.7 Other reserve Other reserve comprises the reclassification of revaluation reserve and foreign currency translation reserve at the date of transition to MFRSs. 11.8 Warrants During the financial year, the warrant exercised by registered warrant holders to new ordinary shares of RM0.20 each at exercise price of RM0.20 per ordinary share as follow: Month of exercise Exercise price (RM) No. of warrant exercised September 0.20 400,000 October 0.20 8,339,400 November 0.20 9,143,000 December 0.20 4,564,900 The number of warrants unexercised at the end of the reporting period was 91,277,903 (2016: 113,725,203). Notes to the financial statements (continued) Annual Report 2017 71