Bursa Malaysia • Annual Report 2013
146
Financial Reports
25. Other reserves (cont’d.)
(c) Foreign currency translation reserve
The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of a subsidiary
whose functional currency differs from the Group’s presentation currency.
(d) Share grant reserve
The share grant reserve represents the value of equity-settled shares granted to employees under the SGP. This reserve is made up of the cumulative
value of services received from employees recorded on grant of shares.
(e) Clearing fund reserves
Group
2013
2012
Note
RM’000
RM’000
Amount set aside for:
CGF, in accordance with Rules of Bursa Malaysia Securities Clearing
(i)
25,000
25,000
DCF, in accordance with Rules of Bursa Malaysia Derivatives Clearing
(ii)
5,000
5,000
30,000
30,000
(i) CGF reserve
The CGF reserve is an amount set aside following the implementation of the CGF. The quantum of the CGF was set at RM100,000,000 and may
increase by the quantum of interest arising from investments of the fixed contributions. The CGF comprises contributions from TCPs, appropriation
from Bursa Malaysia Securities Clearing, and other financial resources (currently in the form of a Standby Credit Facility from the Company).
As at the financial year end, the CGF composition was as follows:
2013
2012
RM’000
RM’000
Contributions from TCPs of Bursa Malaysia Securities Clearing (Note 22)
13,178
12,361
Contribution from Bursa Malaysia Securities Clearing (Note 23(i))
25,000
25,000
Standby Credit Facility from the Company (Note 32(b))
60,000
60,000
98,178
97,361
Non-cash collaterals from TCPs of Bursa Malaysia Securities Clearing (Note 22(b))
4,438
5,776
102,616
103,137
(ii) DCF reserve
Pursuant to the Rules of Bursa Malaysia Derivatives Clearing, Bursa Malaysia Derivatives Clearing set up a DCF for derivatives clearing and
settlement. The DCF comprises contributions from CPs and appropriation of certain amounts from Bursa Malaysia Derivatives Clearing’s retained
earnings.
Notes to the Financial Statements
31 December 2013
