Wah Seong Corporation Berhad Annual Report 2018

B. Group Financial and/or Treasury Management Interested Related Party Lender Borrower Actual Value Transacted for the Financial Year Ended 31 December 2018 Nature of Transaction Chan Cheu Leong; Chan Wei Keat Syn Tai Hung Trading Sdn. Bhd. WDG Resources Sdn. Bhd. RM9,433,261 Utilisation of Syn Tai Hung Trading Sdn. Bhd.'s banking facilities obtained from the bank(s) by WDG Resources Sdn. Bhd. Chan Wei Keat is a Director of WDG Resources Sdn. Bhd. and holds 51,497 shares in Wah Seong Corporation Berhad. Chan Wei Keat is the son of Chan Cheu Leong. Syn Tai Hung Trading Sdn. Bhd. is the immediate holding company of WDG Resources Sdn. Bhd. Chan Cheu Leong is a Substantial Shareholder of 33.33% shareholding in Epilog Tegap Sdn. Bhd. via Midvest Asia Sdn. Bhd. and in turn Epilog Tegap Sdn. Bhd. holds 40% shareholding in WDG Resources Sdn. Bhd. Chan Cheu Leong is the Managing Director/Group Chief Executive Officer and a Substantial Shareholder of 5.49% shareholding in Wah Seong Corporation Berhad via Midvest Asia Sdn. Bhd. and Midvest Properties Sdn. Bhd.. His direct shareholding in Wah Seong Corporation Berhad is 2.67%. Chan Cheu Leong is the father of Chan Wei Keat. Chan Cheu Leong; Chan Wei Keat Syn Tai Hung Trading Sdn. Bhd. WDG Resources Sdn. Bhd. RM30,000,000 Guarantee granted to undertake outstanding amount owing by WDG Resources Sdn. Bhd. in the event that WDG Resources Sdn. Bhd. failed to settle any debts owing to the suppliers and/or banks. Chan Wei Keat is a Director of WDG Resources Sdn. Bhd. and holds 51,497 shares in Wah Seong Corporation Berhad. Chan Wei Keat is the son of Chan Cheu Leong. Syn Tai Hung Trading Sdn. Bhd. is the immediate holding company of WDG Resources Sdn. Bhd. Chan Cheu Leong is a Substantial Shareholder of 33.33% shareholding in Epilog Tegap Sdn. Bhd. via Midvest Asia Sdn. Bhd. and in turn Epilog Tegap Sdn. Bhd. holds 40% shareholding in WDG Resources Sdn. Bhd. Chan Cheu Leong is the Managing Director/Group Chief Executive Officer and a Substantial Shareholder of 5.49% shareholding in Wah Seong Corporation Berhad via Midvest Asia Sdn. Bhd. and Midvest Properties Sdn. Bhd.. His direct shareholding in Wah Seong Corporation Berhad is 2.67%. Chan Cheu Leong is the father of Chan Wei Keat. NOTE: The Interested Related Party Relationships are as per Circular to Shareholders on Proposed Renewal of Shareholders’ Mandate for the Existing Recurrent Related Party Transactions of a Revenue or Trading Nature and Provision of Financial Assistance; and Proposed New Shareholders’ Mandate for Additional Recurrent Related Party Transactions of a Revenue or Trading Nature and Provision of New Financial Assistance dated 25 April 2018 which was approved at the Annual General Meeting of Wah Seong Corporation Berhad held on 25 May 2018. SUMMARY OF SIGNIFICANT RECURRENT RELATED PARTY TRANSACTIONS ANNUAL REPORT 2018 177