Annual Report (Complete) - MYCRON Steel Berhad

Statement on Corporate Governance
(continued)
D. Financial assistance between Mycron Group and classes of related parties
No.
Type of
Financial Assistance
Related
Party
Interested
Related Parties
Director
Manner of relationship
with the Related Party
Major Shareholder
Value of
Transaction
(RM)
1. Provision of guarantees, indemnity
or such other collateral to or in
favour of another person which
is necessary in order for MIE to
procure a contract or secure work
from the other person or to enable
the other person to commence
and/or complete a contract or
work for Mycron Group.
MIE
Interested Directors
TY, TK and DZ
Major Shareholder
MIG
TY is deemed interested in
MIE by virtue of his indirect
substantial interest in MIG
vide the shareholdings of
MEBVI, MESB, MAAB and
MKSB.
TK and DZ are therefore
deemed interested by
virtue of their relationship
to TY based on Section
122A(1)(d) of the Act.
MIE is a 70% owned
subsidiary of MIG.
MIG is the substantial
shareholder of Mycron
by virtue of its 54.8%
shareholding in Mycron.
Nil
2. Provision of financial assistance
to MIG Group by the pooling of
funds via a centralised treasury
management function within
Mycron Group on a short or
medium term basis i.e. for a
duration not exceeding three (3)
years.
MIG
Group
Interested Directors
TY, TK and DZ
Major Shareholder
MIG
TY is deemed interested
in MIG Group by virtue
of his indirect substantial
interest in MIG vide the
shareholdings of MEBVI,
MESB, MAAB and MKSB.
TK and DZ are therefore
deemed interested by
virtue of their relationship
to TY based on Section
122A(1)(d) of the Act.
MIG is the substantial
shareholder of Mycron
by virtue of its 54.8%
shareholding in Mycron.
Nil
COMPLIANCE STATEMENT
The Board is satisfied that the Company has, in all material aspects, complied with the best practice of the Code for the financial year
ended 30 June 2010.
This statement was approved by the Board of Directors on 5 October 2010.
pg 34 | Mycron Steel Berhad