Overview Our Business
Strategic Review Corporate Governance
Financial Statements
Other Information
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DIRECTORS’ INTERESTS (CONTINUED)
Notes:
(1)
Held through a nominee, namely CIMSEC Nominees (Tempatan) Sdn. Bhd.
(2)
Includes deemed interest in 1,000 shares in the Company held by spouse pursuant to Section 134(12)(c) of the Companies Act, 1965.
(3)
These shares are currently held by CIMB Commerce Trustee Berhad or its nominee pursuant to the terms and conditions of the incentive arrangement which forms part of the employment
contract which the Director has entered into with the Company, the cash incentives payable to the Director were used to acquire shares of the Company from the open market. Subject to
fulfilment of the vesting conditions and the terms of the incentive arrangement, these shares will vest on the Director on a deferred basis. In addition to his interest in these shares, the Director
is also deemed interested in such additional number of shares in the Company which shall only be determinable in the future, to be acquired using future cash incentives payable to the Director,
pursuant to the terms and conditions of such incentive arrangement.
Other than those disclosed above, according to the Register of Directors’ shareholdings, none of the Directors in office at the end of the financial year
held any interest in shares and options over shares in the Company and its related corporations during the financial year.
IMMEDIATE HOLDING, INTERMEDIATE HOLDING, PENULTIMATE HOLDING AND ULTIMATE HOLDING COMPANIES
The Directors regard BGSM Equity Holdings Sdn. Bhd. as the immediate holding company, BGSM Management Sdn. Bhd. as the intermediate holding
company, Maxis Communications Berhad as the penultimate holding company and Binariang GSM Sdn. Bhd. as the ultimate holding company. All these
companies are incorporated and domiciled in Malaysia.
STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS
Before the statements of profit or loss, statements of comprehensive income and statements of financial position of the Group and of the Company were
made out, the Directors took reasonable steps:
(a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for impairment and satisfied
themselves that all known bad debts had been written off and that adequate allowance had been made for impairment; and
(b) 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, had been written down to an amount which they might be expected so to realise.
At the date of this Report, the Directors are not aware of any circumstances:
(a) which would render the amounts written off for bad debts or the amount of the allowance for impairment in the financial statements of the Group
and of the Company inadequate to any substantial extent; or
(b) which would render the values attributed to current assets in the financial statements of the Group and of the Company misleading; or
(c) 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.
No contingent or other liability has become enforceable or is likely to become enforceable within the period of 12 months after the end of the financial
year which, in the opinion of the Directors, will or may affect the ability of the Group or of the Company to meet their obligations when they fall due.
At the date of this Report, there does not exist:
(a) 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
(b) any contingent liability of the Group and of the Company which has arisen since the end of the financial year.
Directors’ Report
