16 RESERVES (continued) Non-reciprocal capital contribution from immediate holding company The non-reciprocal capital contribution from immediate holding company is a shareholder loan from the immediate holding company, which is unsecured, interest-free, and repayable at the discretion of the Company. Foreign currency translation reserve Foreign currency translation reserve comprises exchange differences arising from the translation of financial statements of foreign operations, share of currency translation reserve of foreign equity-accounted investees and exchange differences on monetary items which form part of the Group’s net investment on foreign operations, provided certain conditions are met. Dividends The following exempt (one-tier) dividends were declared by the Group and Company during the year: Group and Company 2024 2023 $’000 $’000 Declared by the Company to owners of the Company Interim dividend of 0.30 (2023: 0.54) Singapore cents per qualifying ordinary share 5,000 9,000 Group 2024 2023 $’000 $’000 Paid and payable by subsidiaries Paid and payable by subsidiaries to the non-controlling interests 45,957 53,547 Notes to the Financial Statements Year ended 31 December 2024 206 PERENNIAL HOLDINGS PRIVATE LIMITED
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