MKH Annual Report 2020

75 MKH BERHAD 1. Utilisation of Proceeds Raised from Corporate Proposals The utilisation of rights issue proceeds as at 30 September 2020 are as follows: Proposed Utilisation RM’000 Actual Utilisation RM’000 Balance Unutilised RM’000 Revised timeframe Infrastructure and property  development 37,190 37,190 - Completed Payment of landowners’  entitlements 20,000 20,000 - Completed Construction of KTM Komuter  station 21,400 20,1 79 1,221 Within 46 months# Working capital 372 372 - Completed Estimated expenses for the rights  with bonus issue 1,600 1,600 - Completed Total 80,562 79,341 1,221 Notes: # 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 6 months period from 30 September 2020 (2nd revised time frame) up to 31 March 2021. 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 2020 are as follows: Group Company (RM) (RM) Audit Fees 568,475 52,000 Non-audit Fees 49,000 35,000 Total 617,475 87,000 The non-audit fees was payment towards reviewing the statement on risk management and internal control, accountant report and trust account audit. 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