the remeasurements of the net defined employee benefit liability. Foreign currency translation reserve Arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency. FVOCI reserve Arising from changes in fair value of financial assets at FVOCI. The movements in each category of reserves are as follows: LTIP reserve RM’million Employee benefits reserve RM’million Foreign currency translation reserve RM’million FVOCI reserve RM’million Total RM’million Group 2023 As at the beginning of the financial year 344.4 (6,113.1) (727.3) 32.7 (6,463.3) Arising in the financial year (107.4) (645.6) 549.3 (15.6) (219.3) As at the end of the financial year 237.0 (6,758.7) (178.0) 17.1 (6,682.6) 2022 As at the beginning of the financial year 358.5 (6,740.0) (456.6) 24.8 (6,813.3) Arisingin the financial year (14.1) 626.9 (270.7) 7.9 350.0 As at the end of the financial year 344.4 (6,113.1) (727.3) 32.7 (6,463.3) NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 279 30 OTHER RESERVES (CONTINUED) The movements in each category of reserves are as follows: (continued) LTIP reserve RM’million Employee benefits reserve RM’million FVOCI reserve RM’million Total RM’million Company 2023 As at the beginning of the financial year 344.4 (5,829.8) 32.0 (5,453.4) Arising in the financial year (107.4) (585.3) (15.7) (708.4) As at the end of the financial year 237.0 (6,415.1) 16.3 (6,161.8) 2022 As at the beginning of the financial year 358.5 (6,324.2) 24.1 (5,941.6) Arising in the financial year (14.1) 494.4 7.9 488.2 As at the end of the financial year 344.4 (5,829.8) 32.0 (5,453.4) 31 REVENUE Accounting Policy Revenue which represents income arising in the course of the Group’s and the Company’s ordinary activities is recognised by reference to each distinct performance obligation promised in the contracts with customers. Revenue from contracts with customers is measured at its transaction price, being the