ENRA Group Berhad | Annual Report 2022 70 ADDITIONAL COMPLIANCE INFORMATION UTILISATION OF PROCEEDS The Company had at its Extraordinary General Meeting held on 22 October 2021 obtained its shareholders’ approval for the proposed divestment by ENRA Energy of its entire equity interest in ENRA Kimia to Ekopintar Sdn. Bhd. and Hextar Global Berhad for a cash consideration of RM50.0 million (“Proposed Divestment”). The Proposed Divestment was completed on 30 November 2021. As at 16 June 2022, the Company has utilised the total gross proceeds of RM50 million, as detailed in the following table: Proposed Actual Estimated timeframe for Proposed Utilisation of Utilisation Utilisation Balance utilisation from the date of Proceeds RM ‘000 RM ‘000 RM ‘000 receipt of proceeds Capital expenditure and future investments 16.35 2.4 13.95 Within 36 months Working capital 15.00 15.00 – Within 24 months Special Dividend 10.00 10.00 – Fully utilised Repayment of borrowings 8.00 8.00 – Fully utilised Fully utilised Defray estimated expenses for the Proposed Divestment 0.65 0.65 – Fully utilised TOTAL 50.00 36.05 13.95 AUDIT AND NON-AUDIT FEES The amount of remuneration received and receivable by the Company’s auditors, or a firm or corporation affiliated to the Company’s auditors for services rendered to the Group and the Company for the financial year under review are as follows: Group Company RM’000 RM’000 Statutory Audit Fees: By the Company’s auditors 108 53 Non-Audit Fees: By the Company’s auditors 97 26 By affiliated company of the Company’s auditors (tax-related) 24 10 121 36 Total 229 89 The non-audit fees are for recurring permissible services comprises tax compliance fees, transfer pricing documentation preparation, review of Statement of Risk Management and Internal Control and half yearly financial statement reviews.
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