Utilisation of Proceeds Raised From Corporate Proposal During FY2021, the Company established (i) an Islamic commercial papers programme for the issuance of Islamic commercial papers (“ICP”) based on the Shariah principle of Murabahah (via Tawarruq arrangement); and (ii) an Islamic medium term notes programme for the issuance of Islamic medium term notes (“IMTN”) based on the Shariah principle of Murabahah (via Tawarruq arrangement), which have a combined limit of up to RM800.0 million in nominal value. During FY2021, the Company had issued the following Sukuk: Tranche Issuance Date Nominal Value (RM’ million) Tenure Year 1 2 November 2021 20.0 3 2 2 November 2021 25.0 4 3 2 November 2021 30.0 5 4 22 December 2021 3.0 1 Net proceeds raised from the issuance of the Sukuk had been fully utilised to fund general working capital and capital expenditures of the Group. Non-Audit Fees During FY2021, non-audit fees incurred for services rendered to the Company and/or its subsidiaries by the Company’s current external auditors, or a firm affiliated to the current external auditors were as follows: Audit Fee Non-audit Fee Company RM43,000 RM5,000 Group RM205,000 RM5,000 The non-audit fees were incurred mainly for corporate tax computation and submission services rendered to the Group by a firm affiliated to the external auditors. Material Contracts Save as disclosed under Note 31 to the financial statements contained in this Annual Report, there were no material contracts including contracts relating to any loans entered into by the Company and its subsidiaries involving Directors and major shareholders’ interest, either still subsisting at the end of FY2021 or entered into since the end of the previous financial year. Employee Share Scheme The Company did not establish and Employee Share Scheme and does not have any subsisting Employee Share Scheme during the FY2021. Recurrent Related Party Transactions of Revenue and Trading Nature (“RRPT”) The Company had at the Twelfth AGM of the Company held on 18 June 2021 obtained shareholders’ mandate for the Group to enter into RRPT, which are necessary for its day-to-day operations and are in the ordinary course of business with related parties. The shareholders’ mandate shall lapse at the conclusion of the Company’s forthcoming AGM. The Company intends to seek a renewal of the shareholders’ mandate for the RRPT at the Company’s forthcoming AGM. ADDITIONAL COMPLIANCE INFORMATION DISCLOSURES Annual Repor t 2021 48
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