Kimlun Corporation Berhad Annual Report 2019

Annual Report 2019 Kimlun Corporation Berhad DIRECTORS’ REPORT (cont’d) 57 Dividends (cont'd) (i) (ii) (iii) Approval from other relevant authorities and/ or parties, if required. Directors Pang Tin @ Pang Yon Tin** Sim Tian Liang** Chin Lian Hing** Yam Tai Fong (f)** Pang Khang Hau** Kek Chin Wu Dato' Paduka (Dr.) Ir. Hj. Keizrul Bin Abdullah @ Lim Teik Keat Chua Kee Yat @ Koo Kee Yat** ** These directors are also directors of the Company's subsidiaries. The names of the directors of the Company in office since the beginning of the financial year to the date of this report are: Bursa Malaysia Securities Berhad (''Bursa Securities'') for the listing and quotation of the New Shares on the Main Market of Bursa Securities; The shareholders of the Company ("Shareholders") have been granted an option to elect to reinvest their entitlement of the abovementioned final dividend in new ordinary shares in the Company ("New Shares") in accordance with the approved Dividend Reinvestment Plan of the Company ("DRP"). The reinvestment rate for the abovementioned dividend was 80.73%. At the forthcoming Annual General Meeting ("AGM"), a final (single-tier) dividend in respect of the financial year ended 31 December 2019, of 3.30 sen per ordinary share will be proposed for shareholders’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for in equity as an appropriation of retained earnings in the financial year ending 31 December 2020. The Board of Directors has determined that the DRP will apply to the final dividend and the shareholders will be given an option to reinvest the entire final dividend in New Shares ("Reinvestment Option"), subject to approvals being obtained from the following: Shareholders in the forthcoming AGM for the declaration of the final dividend and the issuance of such number of New Shares as may be required pursuant to the exercise of the Reinvestment Option by the shareholders; and