328 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 Additional Information We Are Kenanga Message From Our Leaders Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information 52. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (d) Statements of changes in Islamic banking funds For the financial year ended 31 December 2022 Non- distributable Distributable Total RM’000 Islamic banking fund RM’000 Fair value reserve RM’000 Regulatory reserve RM’000 ESS reserve RM’000 Capital reserve* RM’000 Retained profits RM’000 At 1 January 2022 120,000 906 2,314 13 5,248 55,484 183,965 Profit for the financial year - - - - - 8,272 8,272 Other comprehensive loss for the financial year - (1,207) - - - - (1,207) Share based payment under ESS - - - 1 - (35) (34) Transfer to retained profits - - - (6) - 6 - Transfer from regulatory reserve - - (53) - - 53 - At 31 December 2022 120,000 (301) 2,261 8 5,248 63,780 190,996 At 1 January 2021 120,000 5,036 2,442 19 5,248 45,649 178,394 Profit for the financial year - - - - - 9,704 9,704 Other comprehensive loss for the financial year - (4,130) - - - - (4,130) Share based payment under ESS - - - 3 - (6) (3) Transfer to retained profits - - - (9) - 9 - Transfer from regulatory reserve - - (128) - - 128 - At 31 December 2021 120,000 906 2,314 13 5,248 55,484 183,965 * Capital reserve arose from the merger adjustment to reflect the capital restructuring as a result of the group internal reorganisation exercise.
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