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annual report | 2012 Gunung Capital Berhad (330171-P) 36 DIRECTORS’ REPORT (cont’d) FOR THE YEAR ENDED 31 DECEMBER 2012 DIRECTORS’ BENEFITS Since the end of the last financial year, no director of the Company has received or entitled to receive any benefit (other than the directors’ remuneration as disclosed 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 except for the related party transactions as disclosed in Note 35 to the financial statements. Neither during nor at the end of the financial year, was the Company a party to any arrangements whose object is to enable the directors to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate. DIRECTORS’ INTEREST The shareholdings in the Company and its related corporations of those who were directors at the end of the financial year, as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 134 of the Companies Act, 1965 were as follows:- Number of ordinary shares of RM0.40 each Shares in the Company Balance at Balance at Gunung Capital Berhad 01.01.2012 Bought Sold 31.12.2012 Direct Interest Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal 22,129,070 998,100 - 23,127,170 Indirect Interest Iskandar Ibrahim * 4,889,300 - (1,000,000) 3,889,300 Number of options for ordinary shares of RM0.40 each (Warrant 2003/2013) Balance at Balance at 01.01.2012 Bought Exercised 31.12.2012 Direct Interest Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal 269,100 - (269,100) - Indirect Interest Iskandar Ibrahim * 1,249,300 201,700 - 1,451,000
DIRECTORS’ REPORT (cont’d) FOR THE YEAR ENDED 31 DECEMBER 2012 DIRECTORS’ INTEREST (cont’d) Number of options for ordinary shares of RM0.40 each (Warrant 2010/2020) Balance at Balance at 01.01.2012 Bought Exercised 31.12.2012 Direct Interest Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal 1,944,235 - - 1,944,235 Indirect Interest Iskandar Ibrahim * 1,147,300 - - 1,147,300 * Shares deemed held on the date of appointment as director on 19 January 2012 by virtue of Section 6A(4)(c) of the Companies Act, 1965. By virtue of his interest in the shares of the Company, Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal is deemed interested in the shares of all the subsidiaries of the Company to the extent that the Company has an interest. STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS a) Before the financial statements of the Group and of the Company were made out, 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 allowance for doubtful debts and have satisfied themselves that all known bad debts have been written off and that adequate allowance had been made for doubtful debts; and (ii) to ensure that any current assets, other than debts, which were unlikely to realise in the ordinary course of business, their values as shown in the accounting records of the Group and of the Company have been written down to an amount which they might be expected to realise. b) At the date of this report, the directors are not aware of any circumstances: (i) which would render the amount written off for bad debts or the amount of allowance for doubtful debts in the financial statements of the Group and of the Company inadequate to any substantial extent; or (ii) which would render the values attributed to current assets in the financial statements of the Group and of the Company misleading; or (iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. c) At the date of this report, there does not exist: (i) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year which secures the liability of any other person; or (ii) any contingent liability of the Group and of the Company which has arisen since the end of the financial year. Gunung Capital Berhad (330171-P) 37 annual report | 2012
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Notes:- 1. A member of the Company,
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