DIRECTORS’ REPORT (CONT’D) DIVIDENDS (CONT’D) Subsequent to the end of financial year, the directors, on 24 May 2023 declared a fourth interim single tier dividend of 2.25 sen per ordinary share amounting to RM28,155,324 in respect of the current financial year, payable on 6 July 2023 to shareholders whose names appeared in the record of depositors on 22 June 2023. The financial statements for the current financial year do not reflect the above declared dividends. Such dividends will be accounted for in equity as an appropriation of retained profits in the financial year ending 31 March 2024. The directors do not recommend the payment of any final dividend for the current financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those items disclosed in the financial statements. ISSUES OF SHARES AND DEBENTURES During the financial year:- (a) the Company increased its issued share capital by way of issuance of 417,115,361 new ordinary shares pursuant to the bonus issue exercise undertaken by the Company on the basis of 1 bonus share for every 2 existing ordinary shares held by the shareholders of the Company. (b) there were no issues of debentures by the Company except as disclosed in Note 22 to the financial statements. OPTIONS GRANTED OVER UNISSUED SHARE During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company. BAD AND DOUBTFUL DEBTS Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain that action had been taken in relation to the writing off of bad debts and the making of allowance for impairment losses on receivables and satisfied themselves that there are no known bad debts and that adequate allowance had been made for impairment losses on receivables. At the date of this report, the directors are not aware of any circumstances that would require the writing off of bad debts, or the additional allowance for impairment losses on receivables in the financial statements of the Group and of the Company. INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 131
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