EXCEL FORCE MSC BERHAD Annual Report 2019

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2019 37 MATERIAL CONTRACTS There was no material contract between the Company and its subsidiaries involving the Directors and major shareholders' interests, either still subsisting at the end of the financial year or entered since the end of the previous financial year. STATUTORY AUDIT AND NON-STATUTORY AUDIT FEES The amount of audit and non- audit fees incurred for the services render by external auditors of the Group for the financial year ended 31 December 2019 are as follows:- Group RM Company RM Audit fees 56,000 51,500 Non-audit fees 5,000 5,000 RECURRENT RELATED PARTY TRANSACTIONS ("RRPT") OF REVENUE NATURE On 26 December 2017, we have entered into a tenancy agreement with MY E.G. Services Berhad for rent of office space located at Level 31, MYEG Tower, Empire City. No.8, Jalan Damansara, PJU 8, 47820 Petaling Jaya. Details of transaction are as follows: Term of tenancy 1 December 2017 to 30 November 2020 Monthly rental RM30,256.20 UTILISATION OF PROCEEDS No proceeds were raised by the Company from any corporate proposal during the financial year ended 31 December 2019. ADDITIONAL COMPLIANCE INFORMATION