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ANNUAL REPORT 2014
31
9.6 Status of Utilisation of Proceeds Raised from Any Corporate Proposal
The proceeds raised from the corporate placement in year 2012 have been utilised as follows:-
Intended
Timeframe
Proposed
Actual
for
Utilisation
Utilisation
Utilisation
Deviation
%
Remark
RM’000
RM’000
RM’000
Repayment of bank
within
borrowings
110,000
106,200
6 months
3,800
3
Construction of palm
within
oil mills
235,000
167,000
24 months
68,000
29
Working capital/
within
acquisitions
6,716
–
24 months
6,716
100
Expenses in relation
within
to the placement
6,500
5,948
3 months
552
8
Short-term investment
–
60,061
(60,061)
–
(1)
358,216
339,209
19,007
(2)
Remark:-
(1) Short term money market placement.
(2) Deviation is due to the difference between the actual and the estimated issue price of the
placement share of 7.28%
9.7 Options or Convertible Securities
No options or convertible securities were issued by the Company during the financial year ended 30 June
2014.
9.8 Non-audit fees
The non-audit fees paid to the external auditors and their affiliated company by the Group for the financial
year ended 30 June 2014 amounted to RM338,900.
9.9 Share Buy-backs
During the financial year ended 30 June 2014, a total of 2,000 of the Company’s own shares were purchased
and retained as treasury shares. The monthly breakdown of shares bought back is set out below:-
Month
No. of
Price
Average
Total
Shares
Highest
Lowest
Cost
Cost
RM
RM
RM
RM
August 2013
1,000
2.04
2.04
2.08
2,084
February 2014
1,000
2.50
2.50
2.54
2,544
As at the financial year ended 30 June 2014, a total of 5,722,000 shares were retained as treasury shares.
None of the treasury shares held were resold or cancelled during the financial year.
9.10 Recurrent Related Party Transactions of A Revenue or Trading Nature
Related party transactions are disclosed in Note 33 on page 109 to 115 of this Annual Report.
This statement is made in accordance with a resolution of the Board of Directors dated 21 October 2014.
statement on corporate governance (cont’d)