137 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD ADDITIONAL COMPLIANCE INFORMATION The information set out below is disclosed in compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad: 1. UTILISATION OF PROCEEDS RAISED FROM THE PUBLIC ISSUE The status of utilisation of proceeds from the Initial Public Offering as at 31 December 2023 is as follows: Proposed Utilisation RM’000 Actual Utilisation RM’000 Balance Unutilised RM’000 Intended Timeframe for Utilisation from the Listing Date Expansion in Malaysia and Singapore 62,755 14,417 48,338 Within 36 months Expansion into new geographical markets 53,550 7,700 45,850 Within 36 months Upgrade of digital technology facilities 3,000 250 2,750 Within 36 months Working capital requirements 3,259 3,259 - Within 24 months Share listing and share issuance expenses 7,036 7,036 - Within 1 month Total 129,600 32,662 96,938 2. AUDIT AND NON-AUDIT FEES The amount of audit and non-audit fees paid and payable to the External Auditors and its member firm for the audit and non-audit services rendered to the Company and the Group for the financial year ended 31 December 2023 are as follows: Group RM’000 Company RM’000 Type of Services / External Auditors Audit : Grant Thornton Malaysia PLT 118 28 : Member firm of Grant Thornton International 27 - : Other Auditors 180 - Total Audit Fee 325 28 Non-Audit : Grant Thornton Malaysia PLT 69 64 : Affiliate of Grant Thornton Malaysia PLT 33 3 Total Audit and Non-Audit Fees 427 95 The non-audit services include the following: • Review of Statement on Risk Management and Internal Control • Work pursuant to the requirement of ISA 600 • Sales verification • Tax compliance services • Quarterly results limited review
RkJQdWJsaXNoZXIy NDgzMzc=