NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 18. CASH AND BANK BALANCES Included in the cash and bank balances of the Group is an amount of RM128,675,000 (2022 – RM83,581,000) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966, as amended by the Housing Developers (Housing Development Account) (Amendment) Regulation, 2002. The amount is held at call with banks and is available only to the subsidiaries involved in the property development activities. 19. SHARE CAPITAL The movements in the paid-up share capital are as follows:- THE GROUP/THE COMPANY 2023 2022 2023 RM’000 2022 RM’000 NUMBER OF SHARES (’000) Issued and Fully Paid-Up Ordinary shares:- At 1 April 834,232 834,232 961,315 961,315 New shares issued: - Bonus issue 417,116 - - - At 31 March 1,251,348 834,232 961,315 961,315 (a) The holders of ordinary shares are entitled to receive dividends as and when declared by the Company and are entitled to one vote per share at meetings of the Company. (b) During the financial year, the Company increased its issued share capital by way of issuance of 417,115,361 new ordinary shares pursuant to the bonus issue exercise undertaken by the Company on the basis of 1 bonus share for every 2 existing ordinary shares held by the shareholders of the Company. 20. RESERVES THE GROUP THE COMPANY 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Non-distributable:- Translation reserves (2,910) 4,699 - - INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 195
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