DESTINI Annual Report 2020

20. Share Capital (Cont’d) The new ordinary shares issued for working capital purposes during the financial year 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. 21. Foreign Currency Translation Reserve The exchange 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. 22. Lease Liabilities Group 2020 2019 RM RM At 1 January 2020 21,416,387 - Effect of adoption of MFRS 16 - 21,795,356 At 1 January 2020, as restated 21,416,387 21,795,356 Additions 3,089,253 6,631,697 Payments (7,347,077) (7,013,080) Modification to lease (163,813) - Derecognition arising from termination of lease agreement (4,163,950) - Exchange difference (7,054) 2,414 At 31 December 2020 12,823,746 21,416,387 Presented as: Repayable within twelve months 5,703,310 6,797,863 Repayable after twelve months 7,120,436 14,618,524 12,823,746 21,416,387 ANNUAL REPORT 2020 DESTINI BERHAD Notes to Financial Statements 154