Wah Seong Corporation Berhad Annual Report 2021 187 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 41 DIRECTORS’ REMUNERATIONS Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Executive Directors Salaries, wages and bonus 5,962 7,521 2,160 2,720 Defined contribution plan 452 485 260 273 Directors’ fees 120 120 120 120 Directors’ allowances 24 30 24 30 6,558 8,156 2,564 3,143 Non-Executive Directors Directors’ fees 410 410 410 410 Directors’ allowances 153 168 153 168 563 578 563 578 7,121 8,734 3,127 3,721 The estimated monetary value of benefits-in-kind received and receivable by Directors of the Group and the Company are RM90,000 (2020: RM183,000) and RM45,000 (2020: RM46,000) respectively. In addition to the amounts disclosed above, the Group and the Company have made a reversal of RM1,275,000 and a provision of RM1,080,000 (2020: provision of RM18,847,000 and RM1,042,000) respectively for amounts payable to executive directors at the end of their employment for their services to the Group and the Company as part of their employment contract. With this, the total remuneration (including unpaid gratuity provision) amounted to RM5,846,000 and RM4,207,000 (2020: RM27,581,000 and RM4,763,000) for the Group and the Company respectively. 42 CAPITAL COMMITMENTS Capital expenditure as at the reporting date is as follows: Group 2021 2020 RM’000 RM’000 Commitment to acquire property, plant and equipment not provided for in the financial statements: Approved and contracted 33,891 846 43 SEGMENTAL ANALYSIS For management purposes, the Group is organised into business units based on their products and services. The Group’s operating segments comprise: (a) Oil & gas division: Pipe coating, pipe manufacturing for the oil and gas industry, building and operating offshore/onshore field development facilities and the provision of highly specialised equipment and services to the power generation, oleochemical and petrochemical industries. (b) Renewable energy division: Supplier and manufacturer of specialised equipment for biomass power plants; such as industrial fans, boilers and turbines that run primarily on biomass fuels.
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