Wah Seong Corporation Berhad Annual Report 2019

67 ANNUAL REPORT 2019 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 2019. 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 2019 pursuant to the shareholders’ mandate are disclosed in the Summary of Significant Recurrent Related Party Transactions as set out on pages 188 to 189 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 2019. 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 RM1,064,000 respectively. While the amount of audit fees paid and payable to PwC’s affiliates for services rendered to the Group for the financial year under review are RM1,962,000. (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 RM12,000 and RM2,951,000 respectively. (c) The summary of the aforesaid audit and non-audit fees for the services rendered to the Company and the Group paid and payable to PwC and its affiliates for the financial year under review are as follows:- Company (RM) Group (RM) Audit Fees 88,000 3,026,000 Non-Audit Fees* 12,000 2,951,000 Total 100,000 5,977,000 * Included in fees for non-audit services are fees payable to PwC for the Company and the Group of RM12,000 and RM1,578,000 respectively. * The non-audit fees incurred for the Company and the Group during the financial year under review amounted to RM2,951,000, constituting approximately 49.4% of the total amount of audit and non-audit fees of RM5,977,000 paid and payable to PwC and its affiliates for the services rendered to the Company and the Group.