I
annual report 2014
50
Directors’ Report (Cont’d)
DIRECTORS’ INTERESTS (cont’d)
Number of warrants of RM0.35 each
Balance
Balance
as at
as at
1.1.2014
Allotted
Sold
31.12.2014
Warrants in the Company
Indirect interest:
Ding PengPeng*
Warrant 2012/2015
77,347,600
8,773,981
(86,121,500)
81
Warrant 2014/2017
–
90,974,998
(90,974,998)
–
*
By virtue of shares held by HongPeng International Holdings Limited.
By virtue of his interests in the ordinary shares of the Company, Ding PengPeng is also deemed to be interested in the
ordinary shares of all the subsidiaries to the extent that the Company has an interest.
None of the other Directors holding office at the end of the financial year held any interest in ordinary shares and warrants
of the Company and of its related corporations during the financial year.
DIRECTORS’ BENEFITS
Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit
(other than benefit included in the aggregate amount of emoluments received or due and receivable by the Directors as
shown in the financial statements) by reason of a contract made by the Company or a related corporation with the Director
or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest
other than the following:
(i)
remuneration received or due and receivable by certain Directors as Directors/executives of the subsidiaries; and
(ii)
deemed benefits arising from related party transactions as disclosed in Note 24 to the financial statements.
There were no arrangements during and at the end of the financial year, to which the Company is a party, which had the
object of enabling the Directors to acquire benefits by means of the acquisition of shares in or debentures of the Company
or any other body corporate except for the warrants issued as disclosed in Note 14(d) to the financial statements.
OTHER INFORMATION REGARDING THE GROUP AND THE COMPANY
(I)
AS AT THE END OF THE FINANCIAL YEAR
(a)
Before the statements of profit or loss and other comprehensive income and statements of financial position
of the Group and of the Company were made out, the Directors took reasonable steps:
(i)
to ascertain that proper action had been taken in relation to the writing off of bad debts and the making
of provision for doubtful debts and have satisfied themselves that there are no known bad debts to be
written off and that provision need not be made for doubtful debts; and
(ii)
to ensure that any current assets other than debts, which were unlikely to realise their book values in
the ordinary course of business had been written down to their estimated realisable values.
(b)
In the opinion of the Directors, the results of operations of the Group and of the Company during the financial
year have not been substantially affected by any item, transaction or event of a material and unusual nature.
