Annual Report Laporan Tahunan - Baiduri Bank

Notes to Financial Statements
December 31, 2008
18 SHARE CAPITAL
The Group/The Company The Group/The Company
2008 2007 2008 2007
’000 ’000 B$’000 B$’000
(Number of ordinary shares of B$1 each)
Authorised: 120,000 120,000 120,000 120,000
Issued and fully paid: 100,000 60,000 100,000 60,000
On February 25, 2008, the issued share capital was increased to B$100,000,000 by the transfer of $35,000,000
from statutory reserve and $5,000,000 from retained profits.
The newly issued shares rank pari passu in all respect with the existing shares of the Company.
19 STATUTORY RESERVE
The Group
The Company
2008 2007 2008 2007
B$’000 B$’000 B$’000 B$’000
Balance at the beginning of the year 41,888 25,838 35,953 23,319
Transferred to capital (35,000) - (35,000) -
Transferred from profit and loss statements 18,689 16,050 13,885 12,634
Balance at the end of the year 25,577 41,888 14,838 35,953
The transfer from profit and loss statements is to comply with Section 24 of the Brunei Darussalam Banking
Order 2006 and Section 13 of the Finance Companies Act, Cap. 89.
20 COMMITMENTS AND CONTINGENCIES
In the normal course of business, the Company and the Group make various commitments and incur certain
contingent liabilities with legal recourse to its customers. No material losses are anticipated as a result of
these transactions. The commitments and contingencies constitute the following: -
The Group/The Company
2008 2007
B$’000 B$’000
Letter of credit and bills for collection 61,424 55,402
Guarantees 120,247 120,401
Acceptances and other obligations 877 790
Foreign exchange contracts 11,186 4,674
193,734 181,267
40 Baiduri Bank Annual Report 2008