FINANCIAL STATEMENTS (continued) 61 DIRECTORS’ INTERESTS (continued) By virtue of their interests in the ordinary shares of the Company, Law King Hui and Lee Swee Hang are also deemed interested in the ordinary shares of the subsidiaries during the financial year to the extent that Sasbadi Holdings Berhad has an interest. The other Directors holding office at 31 August 2022 had no interest in the ordinary shares and options over ordinary shares of the Company and of its related corporations during the financial year DIRECTORS’ BENEFITS Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit (other than those benefits included in the aggregate amount of remuneration received or due and receivable by the Directors as shown in the financial statements) by reason of a contract made by the Company or 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. There were no arrangements made during and at the end of the financial year, to which the Company is a party, which had the object of enabling 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 Directors’ remuneration of the Group and of the Company for the financial year ended 31 August 2022 were as follows: Group Company RM’000 RM’000 Fees 240 240 Salaries and other emoluments 780 - Estimated value of benefit-in-kind 59 - 1,079 240 INDEMNITY AND INSURANCE During the financial year, Directors and Officers of Sasbadi Holdings Berhad, together with its subsidiaries, are covered under the Directors’ and Officers’ Liability Insurance in respect of liabilities arising from acts committed in their respective capacity as, inter alia, Directors and Officers of the Group subject to the terms of the policy. The total amount of Directors’ and Officers’ Liability Insurance effected for the Directors and Officers of the Group was RM5 million. The total amount of premium paid for the Directors’ and Officers’ Liability Insurance by the Group and the Company was RM10,000. There were no indemnity and insurance costs effected for auditors of the Group and Company during the financial year. 61 ANNUAL REPORT 2022
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