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