Wah Seong Corporation Berhad Annual Report 2020

178 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 41 DIRECTORS’ REMUNERATIONS (CONTINUED) The estimated monetary value of benefits-in-kind received and receivable by Directors of the Group and the Company are RM183,000 (2019: RM545,000) and RM46,000 (2019: RM79,000) respectively. In addition to the amounts disclosed above, the Group and the Company have made a provision of RM18,847,000 and RM1,042,000 (2019: RM993,000 and RM993,000) respectively for amounts payable to executive directors at the end of their employment for their services to the Group and the Company as part of their employment contract. With this, the total remuneration (including unpaid gratuity provision) amounted to RM27,581,000 and RM4,763,000 (2019: RM11,044,000 and RM5,364,000) for the Group and the Company respectively. 42 CAPITAL COMMITMENTS Capital expenditure as at the reporting date is as follows: Group 2020 2019 RM’000 RM’000 Commitment to acquire property, plant and equipment not provided for in the financial statements: Approved and contracted 846 6,325 43 SEGMENTAL ANALYSIS For management purposes, the Group is organised into business units based on their products and services. The Group’s operating segments comprise: (a) Oil & gas division: Pipe coating, pipe manufacturing for the oil and gas industry, building and operating offshore/onshore field development facilities and the provision of highly specialised equipment and services to the power generation, oleochemical and petrochemical industries. (b) Renewable energy division: Supplier and manufacturer of specialised equipment for biomass power plants; such as industrial fans, boilers and turbines that run primarily on biomass fuels. (c) Industrial trading & services division: Trading and distribution of building materials and the manufacturing and trading of industrial pipes for the construction industry. (d) Others: All other units within the Group that do not constitute a separately reportable segment. Management monitors the operating results of its divisions separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on revenue and profitability measures as shown in the table below. Transactions between segments were entered into in the normal course of business and were established on agreed terms. The effects of such inter-segmental transactions are eliminated on consolidation. The assets are allocated based on the operations of the respective segments. The amounts provided to the Group Chief Executive Officer with respect to total assets are measured in a manner consistent with the disclosure of segment assets below.