EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 39 MATERIAL CONTRACTS Therewas nomaterial contract between the Company and its subsidiary companies involving the Directors andmajor 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 2020 are as follows:- Group Company RM RM Audit fees 57,000 52,500 Non-audit fees 5,000 5,000 RECURRENT RELATED PARTY TRANSACTIONS ("RRPT") OF REVENUE NATURE 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 2020 to 30 November 2023 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 2020. ADDITIONAL COMPLIANCE INFORMATION