301 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey SUMMARY OF SIGNIFICANT RECURRENT RELATED PARTY TRANSACTIONS A. Group Financial and/or Treasury Management Interested Related Party Lender Borrower Actual Value Transacted for the Financial Year Ended 31 December 2024 Nature of Transaction Dato’ Seri Robert Tan Chung Meng (“DSRT”); Pauline Tan Suat Ming (“PT”); Tony Tan Choon Keat (“TTCK”); Tan Kim Yeow Sendirian Berhad (“TKYSB”) Wasco Berhad (“WB”) Triple Cash Sdn. Bhd. (“TCSB”) RM6,045,464 Interest bearing advances for purpose of working capital requirement DSRT is the Non-Independent Non-Executive Chairman of WB and also an indirect Major Shareholder of WB by virtue of his total direct and indirect shareholdings in WB of 1.54% and 41.20% respectively. DSRT is a Major Shareholder of TCSB by virtue of his indirect shareholding through TKYSB. PT is an indirect Major Shareholder of WB by virtue of her indirect shareholding in WB of 41.48%. PT is a Major Shareholder of TCSB by virtue of her indirect shareholding through TKYSB. TTCK is an indirect Major Shareholder of WB by virtue of his indirect shareholding in WB of 41.20%. TTCK is a Major Shareholder of TCSB by virtue of his indirect shareholding through TKYSB. TKYSB is a Major Shareholder of WB by virtue of its total direct and indirect shareholdings in WB of 8.63% and 32.57% respectively and a Major Shareholder of TCSB by virtue of its 21% shareholding in TCSB. B. Transactions of A Revenue or Trading in Nature Interested Related Party Provider of Products/ Services Recipient of Products/ Services Actual Value Transacted for the Financial Year Ended 31 December 2024 Nature of Transaction Dato’ Mohamed Nizam Bin Abdul Razak (“Dato’ Nizam”); Mohd Azlan Bin Mohammed (“Azlan”) Wasco Lindung Sdn. Bhd. (“WL”) Wasco Coatings Malaysia Sdn. Bhd. (“WCM”) and its subsidiaries RM8,927,348 Sale/Purchase of sacrificial anodes and sub-contracting of anodes installation works and other related works Dato’ Nizam is a common Director of WCM and WL and a Major Shareholder by virtue of him holding 19.81% shares in Wasco Oilfield Services Sdn. Bhd. (“WOS”), the intermediate holding company of WL. Azlan is a common Director of WCM and WL and a Major Shareholder by virtue of him holding 31.67% shares in WOS (the intermediate holding company of WL) and 22.61% shares in WL respectively. NOTE: The Interested Related Party Relationships are as per the 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 dated 26 April 2024 which was approved at the Annual General Meeting of Wasco Berhad held on 30 May 2024.
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