Wah Seong Corporation Berhad Annual Report 2020

194 WAH SEONG CORPORATION BERHAD B. Group Financial and/or Treasury Management Interested Related Party Lender Borrower Actual Value Transacted for the Financial Year Ended 31 December 2020 Nature of Transaction Chan Cheu Leong; Chan Wei Keat Wah Seong Corporation Berhad WDG Resources Sdn. Bhd. RM11,461,447 Interest bearing advances for purpose of working capital requirement WDG Resources Sdn. Bhd. (“WDG”) is an indirect subsidiary of WSC. Chan Wei Keat is a Director of WDG and holds 51,754 shares in WSC. Chan Wei Keat is the son of Chan Cheu Leong. Chan Wei Kiat is a Director of Epilog Tegap Sdn. Bhd. (“ETSB”) and a Substantial Shareholder of 33.33% shareholding in ETSB via Midvest Asia Sdn. Bhd. (“MASB”) and in turn ETSB holds 40% shareholding in WDG. Chan Cheu Leong is a Substantial Shareholder of 33.33% shareholding in ETSB via MASB and in turn ETSB holds 40% shareholding in WDG. Chan Cheu Leong is the Managing Director/Group Chief Executive Officer and a Substantial Shareholder of 5.67% shareholding in WSC via MASB and Midvest Properties Sdn. Bhd. (“MPSB”). His direct shareholding in WSC is 2.67%. Chan Cheu Leong is the father of Chan Wei Keat. Chan Cheu Leong; Chan Wei Keat; Goh Eng Hooi Syn Tai Hung Trading Sdn. Bhd. WDG Resources Sdn. Bhd. RM20,000,000 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 Syn Tai Hung Trading Sdn. Bhd. (“STHT”) is the immediate holding company of WDG. Goh Eng Hooi is a Director of STHT. Chan Wei Keat is a Director of WDG and holds 51,754 shares in WSC. Chan Wei Keat is the son of Chan Cheu Leong. Goh Eng Hooi is a Substantial Shareholder of 33.33% shareholding in ETSB via Go Hotels Sdn. Bhd. and in turn ETSB holds 40% shareholding in WDG. Chan Wei Kiat is a Director of ETSB and a Substantial Shareholder of 33.33% shareholding in ETSB via MASB and in turn ETSB holds 40% shareholding in WDG. Chan Cheu Leong is a Substantial Shareholder of 33.33% shareholding in ETSB via MASB and in turn ETSB holds 40% shareholding in WDG. Chan Cheu Leong is the Managing Director/Group Chief Executive Officer and a Substantial Shareholder of 5.67% shareholding in WSC via MASB and MPSB. His direct shareholding in WSC 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 Financial Assistance dated 18 May 2020 which was approved at the Annual General Meeting of Wah Seong Corporation Berhad held on 23 June 2020. SUMMARY OF SIGNIFICANT RECURRENT RELATED PARTY TRANSACTIONS