MKH Annual Report 2019

073 M K H B e r h a d 1. Utilisation of Proceeds Raised from Corporate Proposals The utilisation of rights issue proceeds as at 30 September 2019 are as follows: Proposed Actual Balance Utilisation Utilisation Unutilised RM’000 RM’000 RM’000 Revised timeframe Infrastructure and property development 37,190 28,736 8,454 Within 30 months^ Payment of landowners’ entitlements 20,000 20,000 - Completed Construction of KTM Komuter station 21,400 6,055 15,345 Within 30 months# Working capital 372 372 - Completed Estimated expenses for the rights with bonus issue 1,600 1,600 - Completed Total 80,562 56,763 23,799 Notes: ^ Construction works completed and pending finalisation of claims. # Construction works in progress. The time frame for the utilisation of the proceeds raised from the rights with bonus issue has been extended for another 10 months period from 30 November 2019 (i.e. 1st revised time frame from 1 June 2017 till 30 November 2019) up to 30 September 2020. 2. Audit and Non-Audit Fees The amount of audit fees and non-audit fees paid by the Company and its subsidiaries to the external auditors for the financial year ended 30 September 2019 are as follows:- Group Company (RM) (RM) Audit Fees 607,149 52,000 Non-audit Fees 15,900 15,900 Total 623,049 67,900 The non-audit fees was payment towards reviewing the statement on risk management and internal control as well as conducting training for Malaysia Financial Reporting Standards 9, 15 and 141. 3. Material Contracts Involving Directors and Major Shareholders’ Interest There were no material contracts entered into by the Company and its subsidiaries involving Directors’ and/or major shareholders’ interests during the financial year. 4. Sanctions and/or Penalties There were no material publics sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or management by the relevant regulatory bodies during the financial year. ADDITIONAL COMPLIANCE information