31
ANNUAL REPORT 2015
9.2 Sanctions and/or Penalties
There were no sanctions and/or penalties imposed on the Company or its subsidiaries, directors or management
by any relevant authority during the financial year ended 30 June 2015.
9.3 Variation in Results
The audited results for the financial year ended 30 June 2015 did not differ by 10% or more from the announced
unaudited results. There were no profit estimates, forecasts or projections issued by the Group during the
financial year ended 30 June 2015.
9.4 Profit Guarantees
There were no profit guarantees given by the Company or its subsidiaries during the financial year ended 30
June 2015.
9.5 Material Contracts
There were no material contracts (not being contracts entered into in the ordinary course of business) entered
into by the Company or its subsidiaries which involved directors and major shareholders, either still subsisting
at the end of the financial year ended 30 June 2015 or entered into since the end of the previous financial year.
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
110,000
106,200
within
3,800
3
borrowings
6 months
Construction of palm
235,000
227,919
within
7,081
29
oil mills
24 months
Working capital/
6,716
–
within
6,716 100
acquisitions
24 months
Expenses in relation
6,500
5,948
within
552
8
to the placement
3 months
Short-term investment
–
7
(7)
–
(1)
358,216
340,074
18,142
(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
2015.
statemeNt on corporate governance (cont’d)
