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sustainability & governance
Annual Report 2017
73
• Utilisation of Proceeds Raised from Corporate Proposals
No proceeds were raised by the Company from any corporate exercise during the financial year.
• Non-Audit Fees
Non-audit fees paid to the external auditors during the financial year was RM9,000 (2016: RM8,000).
• Material Contracts and Contracts Relating to Loans
There were no material contracts and contracts relating to loans entered into by the Company and its subsidiaries which involve
the Directors or substantial shareholders entered into since the previous financial year ended 31 March 2016.
• Recurrent Related Party Transactions of Revenue or Trading Nature (“RRPT”)
RRPT of the Company for the financial year ended 31 March 2017 were as follows:
Name of
Subsidiary
Related Party
Nature of RRPT
Interested Major
Shareholder
and Director of
Subsidiary
Estimated
Annual Value
Disclosed in
the Preceding
Year’s Circular
(RM’000)
Actual Value of
Transactions
during the
financial year
(RM’000)
PT Nunukan
Jaya Lestari
(“PT NJL)
(1)
PT Pohon Emas
Lestari
(“PT PEL”)
(2)
Purchase of fresh
fruit bunches
Buyer:
PT NJL
Seller:
PT PEL
Bapak
Muhammad
Ramli
(3)
10,000
6,029
Notes:
(1)
PT NJL’s principal activities are in the oil palm production and processing. FimaCorp owns 80.0% of PT NJL;
(2)
PT PEL’s principal activity is oil palm production; and
(3)
Bapak Muhammad Ramli is a Director of PT NJL and has 20% direct shareholding in PT NJL. He is also a Director of PT
PEL and has 99.64% direct shareholding in PT PEL.
ADDITIONAL COMPLIANCE INFORMATION