Kimlun Corporation Berhad Annual Report 2020

DIRECTORS’ REPORT 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) Issue of shares (a) (b) Warrants 2014/2024 Other statutory information (a) (i) (ii) (b) (i) (ii) issuance of 7,929,839 ordinary shares arising from the DRP pertaining to the final (single tier) dividend of 3.70 sen in respect of the financial year ended 31 December 2018. issuance of 102,700 ordinary shares arising from the exercise of Warrants 2014/2024, at the exercise price of RM1.68 per warrant. to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had been written down to an amount which they might be expected so to realise. Details of the Warrants 2014/2024 are disclosed in Note 30(b) to the financial statements. Before the statements of comprehensive income and statements of financial position of the Group and of the Company were made out, the directors took reasonable steps: to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate provision has been made for doubtful debts; and The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. the amount written off for bad debts or the amount of the provision for doubtful debts in the financial statements of the Group and of the Company inadequate to any substantial extent; and At the date of this report, the directors are not aware of any circumstances which would render: the values attributed to current assets in the financial statements of the Group and of the Company misleading. During the financial year, the Company increased its issued and paid-up ordinary share capital from RM247,278,704 to RM255,944,359 by way of issuance of 13,557,773 ordinary shares arising from the DRP pertaining to the final (single-tier) dividend of 3.30 sen per share in respect of the financial year ended 31 December 2019. - 5 - Annual Report 2020 062