Notes tothe financial statements For the financial year ended 31 December 2023 31. Reserves (a) Revenue reserves Company 2023 2022 Rp million Rp million Retained earnings: Balance at 1 January 611,310 670,055 Profit for the year (128,830) 59,070 Dividends (123,561) (117,815) Balance at 31 December 358,919 611,310 (b) Other reserves Company 2023 2022 Rp million Rp million Other reserves: Balance at 1 January and 31 December 144,152 144,152 Other reserves of the Company pertain to the gain on sale of treasury shares in the previous financial year. Other reserves of the Group comprise capital reserves of subsidiary companies, gain on sale of treasury shares, re-measurement of employee benefits liabilities and foreign currency translation differences. Movement in the reserves of the Group are shown in the consolidated statement of changes in equity. (c) Dividends Company 2023 2022 Rp million Rp million Declared and paid during year: Dividends on ordinary shares: - Final tax exempt (one-tier) dividend for 2023: 0.8 Singapore cents (2022: 0.8 Singapore cents) per share 123,561 117,815 Proposed but not recognised as a liability as at 31 December: Dividends on ordinary shares, subject to shareholders’ approval at the forthcoming AGM: - Final tax exempt (one-tier) dividend for 2023: 0.8 Singapore cents (2022: 0.8 Singapore cents) per share 130,787 130,199 144 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
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