TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
94
NOTES TO THE FINANCIAL STATEMENTS
16. Cash and cash equivalents
Group
Company
2014
2013
2014
2013
RM’000
RM’000
RM’000
RM’000
Cash and bank balances
202,832
181,009
76
207
Deposits with licensed banks
138,690
131,565
3,380
26,039
341,522
312,574
3,456
26,246
17. Share capital and reserves
Amount
Number
of shares
Amount
Number
of shares
2014
2014
2013
2013
RM’000
’000
RM’000
’000
Ordinary shares of RM0.50 each
Authorised
500,000 1,000,000
500,000 1,000,000
Issued and fully paid
336,000
672,000
336,000
672,000
Treasury shares
The shareholders of the Company via a resolution passed in the Annual General Meeting held on 28 May 2014 approved
the Company’s plan to purchase its own shares.
During the year, the Company bought back 52,000 (2013: 2,000) of its issued shares from the open market at prices
ranging from RM3.43 to RM5.38 (2013: RM6.38 to RM6.91) per ordinary share. The cumulative total number of shares
bought back at the end of the year was 19,239,000 (2013: 19,187,000). These transactions were financed by internally
generated funds.
As at 31 December 2014, the number of outstanding shares in issue after deducting treasury shares held was 652,761,000
(2013: 652,813,000) ordinary shares of RM0.50 each.
The shares bought back are being held as treasury shares in accordance with Section 67A of the Companies Act, 1965.
Treasury shares have no rights to vote, dividends and participation in other distribution.
Translation reserve
The translation reserve comprises all foreign currency differences arising from the translation of the financial statements
of the Group entities with functional currencies other than RM.
Hedging reserve
The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging
instruments related to hedged transactions that have not occurred.
Revaluation reserve
This revaluation reserve is used to record changes in fair values of land and buildings.
