MISC Annual Report 2018

HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 209 MISC BERHAD ANNUAL REPORT 2018 208 DIRECTORS' BENEFITS Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Corporation was a party, whereby the directors might acquire benefits by means of acquiring of shares in or debentures of the Corporation or any other body corporate. Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than benefits included in the aggregate amount of remunerations received or due and receivable by the directors or fixed salary of full-time employees of the Corporation and other related corporations as disclosed in Note 7 to the financial statements) by reason of a contract made by the Corporation or a related corporation with any director or with a firm of which he is a member, or with a company in which he has a substantial financial interest. DIRECTORS' INTERESTS According to the register of directors’ shareholdings, the interests and deemed interests of directors in office at the end of the financial year in shares in the Corporation and its related corporations during the financial year were as follows: Number of ordinary shares 1 January 2018 Bought Sold 31 December 2018 Fellow subsidiary - PETRONAS Gas Berhad Direct Dato’ Ab. Halim bin Mohyiddin 5,000 - - 5,000 Datuk Nasarudin Md Idris 3,000 - - 3,000 Number of stapled securities of KLCC Property Holdings Berhad and KLCC Real Estate Investment Trust 1 January 2018 Bought Sold 31 December 2018 Fellow subsidiary - KLCC Property Holdings Berhad Direct Datuk Nasarudin Md Idris 5,000 - - 5,000 DIRECTORS' INTERESTS (CONT'D.) Number of ordinary shares 1 January 2018 Bought Sold 31 December 2018 Fellow subsidiary - PETRONAS Chemicals Group Berhad Direct Dato’ Ab. Halim bin Mohyiddin 5,000 - - 5,000 Datuk Nasarudin Md Idris 10,000 - - 10,000 Mohd Yusri bin Mohamed Yusof 6,000 2,000 - 8,000 Number of ordinary shares 1 January 2018 Bought Sold 31 December 2018 Subsidiary - Malaysia Marine and Heavy Engineering Holdings Berhad Direct Dato’ Ab. Halim bin Mohyiddin 5,000 - - 5,000 Datuk Nasarudin Md Idris 10,000 - - 10,000 Other than as disclosed above, none of the other directors in office at the end of the financial year had any interest and deemed interests in shares in the Corporation or its related corporations during the financial year. INDEMNITY AND INSURANCE COSTS During the financial year, PETRONAS and its subsidiaries (hereinafter referred to as "PETRONAS Group"), including the Corporation, maintained a Directors' and Officers' Liability Insurance in accordance with Section 289 of the Companies Act, 2016. The total insured limit for the Directors and Officers Liability Insurance effected for the Directors and Officers of the PETRONAS Group is RM1,290 million per occurrence and in the aggregate. The insurance premium for the Corporation is RM30,060. DIRECTORS ’ REPORT DIRECTORS ’ REPORT