Page 100 - S P Setia Annual Report 2016
P. 100

98    S P Setia Berhad Group
                Annual Report 2016






          Directors’ Report


          DIRECTORS’ BENEFITS
          Since the end of the previous financial period, no Director of the Company has received or become entitled to receive any benefit
          (other than benefits included in the aggregate amount of emoluments received or due and receivable by the Directors as shown in the
          financial statements or the fixed salary of a full-time employee of the Company as shown in Note 31 to 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 except for any benefit which may be deemed to have arisen from the
          transactions disclosed in Note 37 to the financial statements.
          Neither during nor at the end of the financial year was the Company a party to any arrangement whose object is to enable the Directors of
          the Company to acquire benefits 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 financial statements of the Group and of the Company were prepared, 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 allowance for doubtful
                   debts and satisfied 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 including the values of current
                   assets as shown in the accounting records of the Group and of the Company had been written down to an amount which the
                   current assets might be expected so to realise.
          (b)   At the date of this report, the Directors are not aware of any circumstances:

              (i)   which would render the amount written off for bad debts or the amount of the allowance for doubtful debts in the financial
                   statements of the Group and of the Company inadequate to any substantial extent; or

              (ii)   which would render the values attributed to the current assets in the financial statements of the Group and of the Company
                   misleading; or

              (iii)   which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the
                   Company misleading or inappropriate.

          (c)   At the date of this report, there does not exist:

              (i)   any charge on the assets of the Group or of the Company which has arisen since the end of the financial year which secures the
                   liabilities of any other person; or

              (ii)   any contingent liability of the Group or of the Company which has arisen since the end of the financial year.

          (d)   No contingent or other liability of the Group or of the Company has become enforceable or is likely to become enforceable within the
              period of twelve months after the end of the financial year which, in the opinion of the Directors, will or may affect the ability of the
              Group or of the Company to meet their obligations as and when they fall due.

          (e)   At the date of this report, the Directors are not aware of any circumstances, not otherwise dealt with in this report or the financial
              statements of the Group and of the Company which would render any amount stated in the respective financial statements misleading.

          (f)   In the opinion of the Directors:
              (i)   the results of the operations of the Group and of the Company for the financial year were not substantially affected by any item,
                   transaction or event of a material and unusual nature; and

              (ii)   there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event
                   of a material and unusual nature likely to affect substantially the results of the operations of the Group and of the Company for
                   the financial year in which this report is made.
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