Page 88 - S P Setia Annual Report 2013
P. 88

86 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013





DIRECTORS’ REPORT

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






DiRectORS’ inteReSt in SHaReS anD lOnG teRm incentiVe Plan (“ltiP”) (cOnt’D)

The following directors had an interest in LTIP during the fnancial year as follows:
no. shares under the eSGP of Rm0.75 each
as at
1.11.2012 or at
date of appointment Granted Vested 31.10.2013

Dato’ Voon Tin Yow - 336,000 - 336,000
Dato’ Teow Leong Seng - 280,000 - 280,000
Dato’ Khor Chap Jen - 280,000 - 280,000
Tan Sri Lee Lam Thye
-indirect - 25,600 - 25,600


no. of share options under the eSOS of Rm0.75 each
as at
1.11.2012 or at
date of appointment Granted exercised 31.10.2013
Dato’ Voon Tin Yow - 9,600,000 - 9,600,000
Dato’ Teow Leong Seng - 8,000,000 - 8,000,000
Dato’ Khor Chap Jen - 8,000,000 - 8,000,000


None of other directors in offce at the end of the fnancial year had any interest in the Company or its related corporations during the fnancial year.

DiRectORS’ BeneFitS

Since the end of the previous fnancial year, no director of the Company has received or become entitled to receive any beneft (other than
benefts included in the aggregate amount of emoluments received or due and receivable by the directors as shown in the fnancial statements
or the fxed salary of a full-time employee of the Company as shown in note 35 to the fnancial statements) by reason of a contract made by the
Company or a related corporation with the director or with a frm of which the director is a member, or with a company in which the director
has a substantial fnancial interest except for any beneft which may be deemed to have arisen from the transactions disclosed in note 41 to the
fnancial statements.

Neither during nor at the end of the fnancial year was the Company a party to any arrangements whose object is to enable the directors of the
Company to acquire benefts by means of the acquisition of shares in, or debentures of, the Company or any other body corporate, other than
those arising from the shares or share options granted under the LTIP.


OtHeR StatUtORY inFORmatiOn

(a) Before the statements of fnancial position and statements of comprehensive income of the Group and of the Company were made out, the
directors took reasonable steps:

(i) to ascertain the action taken in relation to the writing off of bad debts and the making of allowance for doubtful debts and satisfed
themselves that all known bad debts had been written off and adequate allowance had been made for doubtful debts; and

(ii) to ensure that any current assets which were unlikely to realise in the ordinary course of business their values as shown in the accounting
records of the Group and of the Company had been written down to an amount which they might be expected so to realise.
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