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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
Additional
Disclosure
1.
Share Buy-back
At the Twelfth Annual General Meeting held on 24 June 2016, the shareholders of the Company granted authority to the
Company to purchase its own shares provided that the aggregate number of shares purchased shall not exceed 10%
of the total issued and paid-up share capital of the Company at the time of purchase.
The monthly breakdown of the shares purchased by the Company and retained as treasury shares during the financial
year are set about below:-
Month
No. of Shares
Nominal Value
Per Share
(RM)
Total
Consideration
(RM)
Purchase Price Per Share (RM)
Highest
Lowest
Average
February 2016
200,000
0.10
34,261
0.170
0.170
0.170
September 2016
200,000
0.10
30,230
0.150
0.150
0.150
As at 31 December 2016, the Company held 5,466,600 repurchased or treasury shares out of its total issued and paid-
up share capital of 1,053,435,130 ordinary shares of RM0.10 each. Such treasury shares were held at a carrying amount
of RM663,237. There was no resale or cancellation of treasury shares during the financial year.
2.
Audit Fees AND Non-Audit Fees
During the financial year, the audit fees paid or payable by the Company and the Group to our external auditors in
respect of audit of the financial statements for the financial year ended 31 December 2016 amounted to approximately
RM102,000 and RM527,000 respectively and the non-audit fees paid or payable by the Company and the Group to our
external auditors, or a firm or company affiliated to the external auditors for the financial year ended 31 December 2016
amounted to approximately RM40,000 and RM240,000 respectively.
3.
Material Contract
There was no material contracts entered into by the Company and its subsidiaries involving the interest of the Directors
and/or major shareholders of the Company, either still subsisting at the end of the financial year, or which were entered
into since the end of the previous financial year.
4.
Corporate Social Responsibility
Our Group acknowledged the importance of Corporate Social Responsibility (“CSR”) in our business practices. Our
CSR platform touches upon responsible business practices, environmental stewardship and education stewardship.
We run our operations in line with our values, applicable laws and regulations and with integrity. We believe in empowering
people close to the actions to take ownership and responsibility, and instil a culture that values honesty, integrity and
transparency alongside innovation and continuous improvement. To that end, we launched our whistle-blowing policy
in 2011 to strengthen our corporate governance practices and provide employees with accessible avenue to report in
good faith suspected fraud, corruption, dishonest practices or other similar matters.
As well as meeting our customers’ needs, our business activities are directed towards addressing environmental
aspiration. We work alongside our customers to develop effective solutions that will help them address green issues
by reducing the life-cycle impact of their equipment and improving processes through recycling, reusing, repairing,
refurbishing and re-manufacturing their equipment.
We integrate health, safety and environment (HSE) considerations into all aspects of our business operations and
processes as afar as practicable and provide constant training and monitoring to ensure the safety and overall well-
being of our people. We implement and progressively certify the plants’ Occupational Safety and Health Management
System in accordance with OHSAS 18001:2007 with the aim of preventing accidents, injuries, occupational illness and
pollution, and conserving natural resources.