Wah Seong Corporation Berhad Annual Report 2017

GOVERNANCE WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 58 ADDITIONAL COMPLIANCE INFORMATION 1. UTILISATION OF PROCEEDS RAISED FROM CORPORATE PROPOSALS There are no proceeds raised from corporate proposals during the financial year ended 31 December 2017. 2. RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE AND PROVISION OF FINANCIAL ASSISTANCE The details of significant recurrent related party transactions conducted during the financial year ended 31 December 2017 pursuant to the shareholders’ mandate are disclosed in the Summary of Significant Recurrent Related Party Transactions as set out on pages 191 to 192 of this Annual Report. 3. MATERIAL CONTRACTS There are no material contracts (not being contracts entered into in the ordinary course of business), entered into by the Company and its subsidiaries, involving the interests of the Directors, Chief Executive who is not a Director or major shareholders during the financial year ended 31 December 2017. 4. AUDIT AND NON-AUDIT FEES (a) The amount of audit fees paid and payable to the Company’s External Auditors i.e. PricewaterhouseCoopers PLT Malaysia (“PwC”) for the services rendered to the Company and the Group for the financial year under review are RM88,000 and RM1,077,000 respectively. (b) The amount of non-audit fees paid and payable to PwC and its affiliates for the services rendered to the Company and the Group for the financial year under review are RM14,000 and RM3,379,000 respectively. (c) The summary of the aforesaid audit and non-audit fees for the services rendered to the Company and the Group for the financial year under review are as follows: Company (RM) Group (RM) Audit Fees 88,000 1,077,000 Non-Audit Fees* 14,000 3,379,000 Total 102,000 4,456,000 * Included in fees for non-audit services are fees payable to PwC for the Company and the Group of RM14,000 and RM577,000 respectively.