FORGING AHEAD - Tradewinds Plantation Berhad
FORGING AHEAD - Tradewinds Plantation Berhad
FORGING AHEAD - Tradewinds Plantation Berhad
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72<br />
CORPORATE GOVERNANCE<br />
ADDITIONAL COMPLIANCE<br />
INFORMATION<br />
IN COMPLIANCE WITH THE MAIN MARKET LISTING REQUIREMENTS<br />
OF BURSA MALAYSIA SECURITIES BERHAD, THE FOLLOWING IS<br />
PROVIDED:-<br />
1. Non-Audit Fees<br />
The amount of non-audit fees incurred for services<br />
rendered to the Group by the Company’s external<br />
auditors or their affiliated companies for the financial<br />
year ended 31 December 2010 was RM2,500.<br />
2. Material Contracts Involving Directors and Major<br />
Shareholders<br />
Save as disclosed below, there were no other material<br />
contracts which have been entered into by the Company<br />
and its subsidiaries involving directors’ and major<br />
shareholders’ interests either still subsisting at the end of<br />
the financial year or, if not then subsisting, entered into<br />
since the end of the previous financial year:<br />
2.1 A conditional share sale agreement dated 30<br />
October 2009 entered into between Prisma Spektra<br />
Sdn Bhd, a wholly-owned subsidiary of the<br />
Company and Semi Bayu Sdn Bhd (273712-D) for<br />
the acquisition of 125,709,000 ordinary shares of<br />
RM1.00 each, representing the entire issued and<br />
paid-up ordinary share capital of MARDEC <strong>Berhad</strong><br />
(8922-A) for a total purchase consideration of<br />
RM150.0 million. By a supplemental agreement<br />
dated 25 February 2011, the parties mutually<br />
agreed to revise the purchase consideration for the<br />
sale shares to RM140.0 million. The said conditional<br />
share sale agreement is still pending completion.<br />
TRADEWINDS PLANTATION BERHAD<br />
Annual Report 2010<br />
Details of the Relationship<br />
Tan Sri Dato’ Seri Syed Mokhtar Shah bin Syed Nor<br />
is deemed to be a major shareholder of <strong>Tradewinds</strong><br />
<strong>Plantation</strong> <strong>Berhad</strong> by virtue of his indirect equity<br />
interest in <strong>Tradewinds</strong> (M) <strong>Berhad</strong>, the holding<br />
company of <strong>Tradewinds</strong> <strong>Plantation</strong> <strong>Berhad</strong>.<br />
Encik Bakry bin Hamzah, a Non-Independent and<br />
Non-Executive Director of <strong>Tradewinds</strong> <strong>Plantation</strong><br />
<strong>Berhad</strong>, is a 57% shareholder of Damai Akrab Sdn<br />
Bhd, which in turn has a 55% equity interest in Semi<br />
Bayu Sdn Bhd. Encik Bakry bin Hamzah is also a<br />
director of Damai Akrab Sdn Bhd and Semi Bayu<br />
Sdn Bhd. Encik Bakry bin Hamzah is also a Director<br />
of Restu Jernih Sdn Bhd, an indirect major<br />
shareholder of <strong>Tradewinds</strong> <strong>Plantation</strong> <strong>Berhad</strong> in<br />
which Tan Sri Dato’ Seri Syed Mokhtar Shah bin<br />
Syed Nor is a major shareholder.<br />
Mr. Chuah Seong Tat @ Chuah Chee Tat who is a<br />
Non-Independent and Non-Executive Director of<br />
<strong>Tradewinds</strong> <strong>Plantation</strong> <strong>Berhad</strong> is a director of<br />
Bukhary Sdn Bhd, a private limited company in<br />
which Tan Sri Dato’ Seri Syed Mokhtar Shah bin<br />
Syed Nor, the major shareholder of <strong>Tradewinds</strong><br />
<strong>Plantation</strong> <strong>Berhad</strong>, has interest.<br />
Encik Mohd. Nazri bin Md. Shariff is a representative<br />
of <strong>Tradewinds</strong> (M) <strong>Berhad</strong> on the Board of<br />
<strong>Tradewinds</strong> <strong>Plantation</strong> <strong>Berhad</strong> as a Non-Independent<br />
Non-Executive Director, the holding company in<br />
which Tan Sri Dato’ Seri Syed Mokhtar Shah bin<br />
Syed Nor is a major shareholder.