Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 38 Directors’ Report (cont’d) DIRECTORS’ INTERESTS The Directors holding office at the end of the financial year and their beneficial interests in the ordinary shares and warrants of the Company and of its related corporations during the financial year ended 31 December 2016 as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 134 of the Companies Act, 1965 in Malaysia were as follows: ---------- Number of ordinary shares of RM0.10 each ---------- Balance Balance as at as at 1.1.2016 Addition Sold 31.12.2016 Shares in the Company Direct interests: Wang Kuen-Chung @ Jeff Wang 10,741,502 208,000 5,000,000 5,949,502 Gan Teck Ban 675,000 - - 675,000 Lok Choon Hong 20,000 - - 20,000 Indirect interests: Wang Kuen-Chung @ Jeff Wang* 26,675,000 - - 26,675,000 -------------- Number of Warrants of RM0.10 each ------------- Balance Balance as at as at 1.1.2016 Bought Sold 31.12.2016 Warrants in the Company Direct interests: Wang Kuen-Chung @ Jeff Wang 51 - - 51 * By virtue of his interests in the shares in the substantial shareholder of the Company, Exacta Co. Ltd. (‘Exacta’), a company incorporated in British Virgin Islands, Wang Kuen-Chung @ Jeff Wang is deemed to have interests in the Company to the extent of Exacta’s interest therein, in accordance with Section 6A of the Companies Act, 1965 in Malaysia. By virtue of his interests in the ordinary shares of the Company, Wang Kuen-Chung @ Jeff Wang is also deemed to be interested in the ordinary shares of all the subsidiaries to the extent the Company has an interest. The deemed interests in the ordinary shares of the non-wholly owned subsidiaries, held by Wang Kuen-Chung @ Jeff Wang at year end were as follows: ----------- Number of ordinary shares of RM1.00 each ---------- Balance Balance as at as at 1.1.2016 Addition Sold 31.12.2016 Subsidiary, Insage (MSC) Sdn. Bhd. Indirect interests: Wang Kuen-Chung @ Jeff Wang 120,000 - - 120,000 The other Directors holding office at the end of the financial year did not have any beneficial interest in the ordinary shares and warrants of the Company and of its related corporations during the financial year.