KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED SHAREHOLDERS’ INFORMATION NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 FINANCIAL STATEMENTS ADDITIONAL INFORMATION OUR VALUE CREATION APPROACH 253 252 27. LEASE LIABILITIES (CONT’D.) The maturity analysis of lease liabilities is disclosed as below: Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Within 1 year 7,498 6,529 6,116 6,230 Between one and five years 15,776 18,221 11,045 14,364 23,274 24,750 17,161 20,594 Amounts recognised in statement of cash flows: Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Total cash outflow for leases 9,112 9,021 7,344 7,491 28. SHARE CAPITAL Group and Bank Number of Ordinary Shares Amount 2024 ‘000 2023 ‘000 2024 RM’000 2023 RM’000 Issued and fully paid, at no par value: Ordinary shares As at 1 January/31 December 735,762 735,762 253,834 253,834 Treasury shares Group and Bank Number of Ordinary Shares Amount 2024 ‘000 2023 ‘000 2024 RM’000 2023 RM’000 At 1 January 11,693 13,484 11,739 13,538 Share buy-back 620 - 576 - Transfer to staff pursuant to ESS exercise (4,855) (1,791) (4,874) (1,799) At 31 December 7,458 11,693 7,441 11,739 28. TREASURY SHARES (CONT’D.) The shareholders of the Bank, via an ordinary resolution passed at the Annual General Meeting held on 30 May 2024, had approved its plan to purchase its own shares up to 10% of the total number of issued shares of the Bank. During the financial year, the Bank bought back 620,000 (2023: Nil) ordinary shares at an average price of RM0.929 (2023: Nil) from the open market. The share buy-back transactions were financed by internally generated funds. As at 31 December 2024, the total number of shares held as treasury shares in accordance with the provisions of Section 127 of the Companies Act 2016 was 7,457,800. Accordingly the adjusted issued and paid-up share capital of the Bank (excluding 7,457,800 treasury shares) as at 31 December 2024 was RM246,392,920 (2023: RM242,094,762) comprising 728,304,799 (2023: 724,069,799) shares. 29. RESERVES Note Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Non-distributable: Capital reserve 88,938 88,938 153,863 153,863 Fair value reserve (a) 9,552 6,849 309 2,856 Exchange reserve (b) 25,062 28,836 - - Regulatory reserve (c) 16,748 16,064 16,748 16,064 ESS reserve 448 1,317 448 1,317 140,748 142,004 171,368 174,100 Distributable: Retained profits 730,701 686,876 628,109 609,024 871,449 828,880 799,477 783,124 The nature and purpose of each category of reserves are as follows: (a) Fair value reserve is in respect of unrealised fair value gains and losses on financial investments at FVOCI, net of tax. (b) The exchange reserve represents foreign exchange differences arising from the translation of the financial statements of the associated companies. (c) Regulatory reserve is maintained in addition to the impairment allowance for non-impaired credit exposures that has been assessed and recognised in accordance with MFRS in compliance with BNM requirements.
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