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 2023 were as follows: Group Company RM’000 RM’000 Fees 322 322 Salaries and other emoluments 844 - Estimated value of benefit-in-kind 59 - 1,225 322 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 the Company during the financial year. OTHER STATUTORY INFORMATION REGARDING THE GROUP AND THE COMPANY (I) AS AT THE END OF THE FINANCIAL YEAR (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 have satisfied themselves that all known bad debts have been written off and that adequate provision had been made for doubtful debts; and ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 73 Financial Statements (continued)
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