200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 29. Other reserves 2023 2022 2023 2022 RM RM RM RM Foreign currency translation reserve At 1 January (700,299) (578,727) - - Foreign currency translation (73,877) (121,572) - - Effect of struck off of a subsidiary 56,404 - - - At 31 December (717,772) (700,299) - - Warrant reserve At 1 January/ 31 December 34,193,668 34,193,668 34,193,668 34,193,668 Total other reserves 33,475,896 33,493,369 34,193,668 34,193,668 (a) (b) Warrants reserve 30. 2023 2022 2023 2022 RM RM RM RM Sales of raw materials to a company related to certain directors 336,223 309,320 - - Group Company 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 2023, 58,954,600 (2022: 58,954,600) Warrants 2014/2024 remain unexercised. In addition to the related party information disclosed elsewhere in the financial statements, the following significant transactions between the Group and related parties took place at terms agreed between the parties during the financial year: Related party disclosures Foreign currency translation reserve 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 the Group's presentation currency. Group Company - 69 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 139 Annual Report 2023
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