Page 76 - S P Setia Annual Report 2013
P. 76

74 | corporate Governance S P SETIA BERHAD GROUP Annual Report 2013






CORPORATE GOVERNANCE STATEMENT (CONT’D)








Any queries or concerns relating to the Group may be conveyed to the following persons:-

(i) Mr Ng Soon Lai @ Ng Siek Chuan
Chairman of the Audit Committee and Senior Independent Director
E: siekchuan54@gmail.com

(ii) Ms Lee Wai Ngan
Ms Chan Toye Ying
Company Secretaries
E: systems@ssassociates.com.my
T: 03-2161 5466
F: 03-2163 6968


aDDitional comPliance information

utilisation of ProceeDs raiseD from corPorate ProPosals

(i) As at 30 January 2014, the status of the utilization proceeds raised under the Placement exercise which was completed on 25 February
2013 amounting to RM942.86 million is set out below :-

Proposed actual Balance
utilisation utilization unutilized
Purpose rm’000 rm’000 rm’000

Exiting projects and general working capital requirements 550,000 (169,159) 380,841
Future expansion plans 181,900 (79,893) 102,007

Repayment of bank borrowings 200,000 (200,000) -

Estimated expenses for the Corporate Exercise 10,958 (9,541) 1,417
total 942,858 (458,593) 484,265


(ii) On 5 December 2013, S P Setia Berhad (“the Company”) obtained authorisation from the Securities Commission Malaysia vide its letter
dated 4 December 2013 for the proposed issuance of unrated subordinated Islamic perpetual notes (“Sukuk Musharakah”) pursuant to
a proposed Sukuk Musharakah programme of up to RM700 million in nominal value under the Shariah principle of Musharakah (“Sukuk
Musharakah Programme”). The Company had on 13 December 2013 issued a total of RM609 million in nominal value of the Sukuk
Musharakah. As at the date of this annual report, no proceeds has been utilized.
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