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Annual Report 2013
• 115 •
TYPE OF THE RECURRENT RELATED PARTY
NAME OF THE RELATED PARTIES
ACTUAL VALUE OF
TRANSACTIONS MADE
RECURRENT RELATED
PARTY TRANSACTIONS
MADE DURING THE
FINANCIALYEAR ENDED
31 DECEMBER 2013
RM
Sales of fabricated/galvanized steel products, OceanMight Sdn Bhd (“OMSB”)***
-
structural steel works and other related
products
Provision of project management services
OceanMight Sdn Bhd (“OMSB”)***
-
Rental of yard facilities including
OceanMight Sdn Bhd (“OMSB”)***
40,000
machineries/equipment, factories and
office building
Sub-Total
40,000
OTHER DISCLOSURES (CONT’D)
Relationships of the Related Parties with KKB Group:
*
Dato’ Anwarrudin Bin Ahamad Osman who is a Director and shareholder of KKB, is also a shareholder and Director
of Edisi Optima Sdn Bhd.
** Subsidiaries of Cahya Mata Sarawak Berhad (“CMSB”), a major Shareholder of KKB. PPES, CMSIT, CMSW, CMSCP,
CMSC, CMSCL, CMSP, CMSQ, CMS Agrotech and CMSR are persons connected with CMSB. Datuk Syed Ahmad
Alwee Alsree and Syed Hizam Bin Syed Mahmood Ezzularab Abdul-Moez Alsagoff who are Directors of KKB are
the nominess of CMSB and persons connected with CMSB. Datuk Syed Ahmad Alwee Alsree is also a Director of
CMSB.
*** Dato’ Anwarrudin Bin Ahamad Osman is a Director of OMSB. Dato’ Anwarrudin Bin Ahamad Osman is also a
shareholder and Director of EOSB. EOSB is a shareholder of OMSB. Dato’ Anwarrudin has indirect interest in OMSB
via EOSB pursuant to Section 6A of the Companies Act.
(ii) Options, Warrants or Convertible Securities
There were no options, warrants or convertible securities issued or exercised during the financial year ended 31 December
2013.
(iii) Non-Audit Fees
The non-audit fees paid to the external auditors during the financial year ended 31 December 2013 amounted to
RM44,150.
(iv) Variation in Results
There were no variances of 10% or more for the audited results of the Group from the unaudited results as announced on
24 February 2014.
(v) Share Buy-Backs
The Company did not undertake any share buy-back exercise for the financial year ended 31 December 2013.
(vi) American Depository Receipt (“ADR”) or Global Depository Receipt (“GDR”) Programme
The Company did not sponsor any ADR or GDR programme during the financial year ended 31 December 2013.
(vii) Sanctions and/or Penalties Imposed
There were no sanctions and/or penalties imposed by the relevant regulatory bodies on the Company and its subsidiaries,
Directors or Management during the financial year ended 31 December 2013.
(viii)Profit Guarantee
No profit guarantee was provided by the Company and its subsidiaries during the financial year ended 31 December
2013.
(ix) Status of Utilisation of Proceeds raised from Corporate Proposal
For the financial year ended 31 December 2013, there were no proceeds raised by the Company from any corporate
proposals.
(x) Material Contracts
There were no material contracts of the Group, involving Directors’ and major shareholders’ interest, entered into during
the financial year or still subsisting as at the end of the financial year ended 31 December 2013.
(xi) Revaluation Policy
The Group did not adopt any revaluation policies on landed properties for the financial year ended 31 December 2013.
(i) Recurrent Related Party Transactions of a Revenue or Trading Nature (cont’d)