Wah Seong Corporation Berhad Annual Report 2020

77 ANNUAL REPORT 2020 DIRECTORS’ INTERESTS IN SHARES AND DEBENTURES (CONTINUED) ^ Out of 166,006 shares, 58,806 shares were derived from the distribution by WSC of a First Interim Single Tier Share Dividend. & Out of 348,864 shares, 218,864 shares were derived from the distribution by WSC of a First Interim Single Tier Share Dividend. % Out of 311,576 shares, 10,743 shares were derived from the distribution by WSC of a First Interim Single Tier Share Dividend. DIRECTORS’ BENEFITS Since the end of the previous financial year, no Director has received or become entitled to receive a benefit (other than the benefits shown under Directors’ Remuneration in Note 41 and related party transaction in Note 39) by reason of a contract made by the Company or by a related corporation with the Director or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest. Neither during nor at the end of the financial year was the Company or any of its subsidiaries a party to any arrangements whose object was to enable the Directors to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate. DIRECTORS’ REMUNERATION Details of Directors’ remuneration are set out in Note 41 to the financial statements. INDEMNITY GIVEN TO DIRECTORS AND OFFICERS During the financial year, the total amount of indemnity coverage and insurance premium paid for the Directors and officer of the Group and the Company was RM187,853. OTHER STATUTORY INFORMATION (a) Before the financial statements of the Group and of the Company were prepared, the Directors took reasonable steps: (i) 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 had been made for doubtful debts; and (ii) to ensure that any current assets, which were unlikely to be realised in the ordinary course of business including the values of current assets as shown in the accounting records of the Group and of the Company had been written down to an amount which the current assets might be expected so to realise. (b) At the date of this report, the Directors are not aware of any circumstances: (i) which would render the amounts written off for bad debts or the amount of the provision for doubtful debts inadequate to any substantial extent; or (ii) which would render the values attributed to current assets in the financial statements of the Group and of the Company misleading; or (iii) which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. DIRECTORS’ REPORT