BIMB Integrated Annual Report 2017

25. RESERVES 25.1 Breakdown of reserves are as follows: GROUP 2017 2016 NOTE RM’000 RM’000 Share premium – 2,102,611 Other reserves 25.2 100,522 1,083,956 Retained earnings 1,757,894 307,352 1,858,416 3,493,919 Acquisition reserve 25.3 (1,199,747) (1,199,747) 658,669 2,294,172 COMPANY 2017 2016 RM’000 RM’000 Share premium – 2,102,611 Warrant reserves 129,300 129,300 Fair value reserves 178 81 Retained earnings 67,434 51,259 196,912 2,283,251 Share premium Share premium comprises the premium paid on subscription of shares in the Company over and above the par value of the shares. As a result of the adoption of the newly enacted Companies Act 2016 (“New Act”) whereby amongst the key changes are the ordinary share of the Company will cease to have par or nominal value and the share premium will become part of the share capital. During the financial year, the Company has transferred RM2,102,611,000 from share premium to its share capital pursuant to the transition provisions set out in Section 618(2) of the New Act. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 226 BIMB HOLDINGS BERHAD Integrated Annual Report 2017