NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 SECTION 4: FINANCIAL PERFORMANCE 178 14. SHARE CAPITAL Number of ordinary shares Amount 2024 2023 2024 2023 Unit Unit RM’000 RM’000 Group and Company Issued and fully paid with no par value:- At the beginning of the financial year 820,868,600 660,868,600 165,902 39,836 Issuance of new ordinary shares:- - Initial Public Offering - 160,000,000 - 129,600 Share issuance expenses - - - (3,534) At the end of the financial year 820,868,600 820,868,600 165,902 165,902 (a) The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share without restrictions and rank equally with regard to the Company’s residual assets. The new ordinary shares issued during the previous financial year ranked pari passu in all respect with the existing ordinary shares of the Company. (b) In the previous financial year, the Company increased its issued and paid-up ordinary share capital from RM39,836,000 comprising of 660,868,600 ordinary shares to RM165,902,000 comprising 820,868,600 ordinary shares through the following:- (i) On 20 July 2023, the Company was listed on the Main Market of Bursa Malaysia Securities Berhad pursuant to the IPO of 160,000,000 new ordinary shares at IPO Price of RM0.81 per share. 15. FOREIGN EXCHANGE RESERVE The foreign exchange reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different that of the Group’s presentation currency.
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