MKH BERHAD | ANNUAL REPORT 2023 225 28. SHARE CAPITAL (CONT’D) (b) Treasury shares (Cont’d) The directors of the Company are committed to enhancing the value of the Company for its shareholders and believe that the repurchase plan can be applied in the best interests of the Company and its shareholders. The repurchase transactions were financed by internally generated funds. The shares repurchased are held as treasury shares. 29. RESERVES The Group The Company 2023 2022 2023 2022 RM RM RM RM Non-distributable Translation reserve 9,353,413 7,641,236 - - Revaluation reserve 27,359,331 27,359,331 671,520 671,520 36,712,744 35,000,567 671,520 671,520 Distributable Retained earnings 1,180,626,707 1,129,194,466 630,921,121 555,163,280 1,217,339,451 1,164,195,033 631,592,641 555,834,800 Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations as well as the foreign currency differences arising from monetary items which form part of the Group’s net investment in foreign operations, where the monetary item is denominated in either the functional currency of the reporting entity or the foreign operation or another currency. Revaluation reserve The revaluation reserve relates to the revaluation of land and buildings. Retained earnings Distributable reserves are those available for distribution as dividends. The entire retained earnings of the Company are available to be distributed as single tier dividends to the shareholders of the Company. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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