MSM Malaysia Holdings Berhad Annual Report 2020

DIRECTORS’ REPORT DIRECTORS’ BENEFITS Since the end of the previous financial year, no Director has received or become entitled to receive a benefit (other than the benefits shown under Directors’ Remuneration as disclosed in Note 12 to the financial statements) by reason of a contract made by the Company or a related corporation with the Directors or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest. During and at the end of the financial year, no arrangements subsisted to which the Company is a party, being arrangements with the object or objects of enabling Directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate, other than those arising from holding company’s long term incentive plan (“LTIP”) as disclosed in Directors’ Interest in Shares and Debentures. DIRECTORS’ INTEREST IN SHARES AND DEBENTURES According to the Register of Directors’ Shareholdings required to be kept under Section 59 of the Companies Act 2016, none of the Directors who held office at the end of the financial year held any shares or debentures in the Company or its subsidiaries or its holding company or subsidiaries of the holding company during the financial year except as follows: Shareholdings in FGV Holdings Berhad, the immediate holding company Number of ordinary shares At date of appointment/ At 1.1.2020 Acquired Granted (Disposed) 31.12.2020 Datuk Syed Hisham Syed Wazir 55,000 - - - 55,000 Dato’ Haris Fadzilah Hassan # 50,000 - - - 50,000 # Deemed interest by virtue of Section 59(11) of the Companies Act 2016, 50,000 shares are held through the spouse of Dato’ Haris Fadzilah Hassan. AUDITORS’ REMUNERATION Details of auditors’ remuneration are set out in Note 11 to the financial statements. DIRECTORS’ REMUNERATION Details of Directors’ remuneration are set out in Note 12 to the financial statements. INDEMNITY AND INSURANCE FOR DIRECTORS AND OFFICERS The Company maintains a corporate liability insurance for the Directors and Officers of the Group throughout the financial year, which provides appropriate insurance cover for the Directors and officers of the Group. The total amount of insurance premium paid by the Group during the financial year amounted to RM48,500 (2019: RM48,500). MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 124 CHAIRMAN’S STATEMENT DELIVERING VALUE MSM OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS GROUP FINANCIAL REPORT