28. SHARE CAPITAL AND TREASURY SHARES (CONT’D.) (a) Treasury shares During the financial year, the Company repurchased 54,199,100 of its issued ordinary shares from the open market at an average price of RM1.1249 per share. The shares repurchased are being held as treasury shares in accordance with Section 127 of the Companies Act 2016. As at 31 December 2025, the number of treasury shares held are 101,484,943 ordinary shares. Such treasury shares are held at carrying amount of RM108,227,000 (2024: RM47,257,000). 29. OTHER RESERVES (a) Foreign currency translation reserve The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of presentation currency of the Group. (b) Retained earnings The entire retained earnings of the Company are available for distribution as single-tier dividends. 30. IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES AND PERPETUAL BOND Irredeemable Convertible Preference Shares The value of ICPS has been split into the liability component and equity component. The ICPS are accounted for in the statements of financial position of the Group and of the Company as follows: Number of ICPS ’000 Equity component RM’000 Liability component RM’000 Total RM’000 Group and Company At 1 January 2025 79,751 81,554 11,287 92,841 Accretion of interest on ICPS (Note 8) - - 903 903 Dividend payable - - (2,872) (2,872) At 31 December 2025 79,751 81,554 9,318 90,872 At 1 January 2024 294,551 301,210 45,440 346,650 Conversion to ordinary shares (Note 28) (214,800) (219,656) (38,104) (257,760) Accretion of interest on ICPS (Note 8) - - 10,525 10,525 Dividend payable - - (6,574) (6,574) At 31 December 2024 79,751 81,554 11,287 92,841 337
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