SECTION 4: FINANCIAL PERFORMANCE 160 Registration No: 199301009307 (264044-M) Distributable Share Foreign exchange Retained Non-controlling Note capital reserve earnings Sub-total interests Total RM '000 RM '000 RM '000 RM '000 RM '000 RM '000 Group Balance at 1 January 2022 100 1,299 35,589 36,988 7,736 44,724 Total comprehensive income for the financial year Profit for the financial year - - 26,652 26,652 2,463 29,115 Other comprehensive income for the financial year - 1,827 - 1,827 450 2,277 - 1,827 26,652 28,479 2,913 31,392 Transactions with owners:- Acquisition of additional equity interest of existing subsidiaries - - 2,913 2,913 (10,649) (7,736) Issuance of ordinary shares 39,736 - - 39,736 - 39,736 Dividend payable 27 - - (12,500) (12,500) - (12,500) 39,736 - (9,587) 30,149 (10,649) 19,500 Balance at 31 December 2022 39,836 3,126 52,654 95,616 - 95,616 Total comprehensive income for the financial year Profit/(Loss) for the financial year - - 17,631 17,631 (257) 17,374 Other comprehensive income for the financial year - 2,311 - 2,311 (373) 1,938 - 2,311 17,631 19,942 (630) 19,312 Transactions with owners:- Subscription of shares by non-controlling interest of newly incorporated subsidiary - - - - 18,691 18,691 Issuance of ordinary shares pursuant to the Initial Public Offering 129,600 - - 129,600 - 129,600 Share issuance expenses (3,534) - - (3,534) - (3,534) Dividend payable 27 - - (4,104) (4,104) - (4,104) 126,066 - (4,104) 121,962 18,691 140,653 Balance at 31 December 2023 165,902 5,437 66,181 237,520 18,061 255,581 The accompanying notes form an integral part of the financial statements. MST GOLF GROUP BERHAD (Incorporated in Malaysia) STATEMENTS OF CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 Attributable to owners of the Company Non-distributable 22
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