Samudera Bhd was incorporated in 2012 venturing in property development sector. Below is the partial consolidated statement of financial position of Samudera Bhd as at 31 December 2019.

Equity: RM

8% cumulative, convertible preference shares, 750,000

shares issued and outstanding at RM20 per share

15,000,000 Share Capital ordinary share, 30,000,000

shares issued and outstanding 30,000,000

Retained earnings 15,000,000

Total equity 60,000,000

Long-term debt:

Convertible bonds payable (Issue A) 25,000,000

Convertible bonds payable (Issue B) 40,000,000

Total long-term debt 65,000,000

Additional information:

1. The 8% cumulative, convertible preference shares were issued at the beginning of 2018. Each preference share is convertible into five ordinary shares. On 1 April 2020, 500,000 convertible preference shares were converted into ordinary shares.

2. Both convertible bonds were issued in 2019 with a face value of RM1,000 per unit. Bond Issue A is convertible into 50 ordinary shares and Bond Issue B is convertible into 100 ordinary share, respectively. In 2020, interest expense for convertible bonds (Issue A) was RM1,250,000 and interest expense for convertible bonds (Issue B) was RM2,050,000.

3. Shares options were granted at the beginning of 2020 to purchase 5,000,000 ordinary shares at RM4 per share. On 31 December 2020, the market price of the share was RM8.50 per share while the average market price of the shares was RM8 per share. The option will expire on 1 September 2021

4. The board of directors authorized a 4-for-1 share split which became effective on 1 July 2020. The rate of conversion for convertible securities and the right under shares options are adjusted for the share split.

5. Income tax rate for 2020 was 24%.

6. No preference dividends were declared in 2020.

7. Net income before preference dividends for the year ended 2020 was RM20,500,000.

8. No bonds were converted during 2020.

REQUIRED: (Round the answer to TWO (2) decimal points)

(a) Calculate the basic earnings per share (BEPS) for 2020.