127 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD 2. AUDIT AND NON-AUDIT FEES The amount of audit and non-audit fees paid and payable to the external auditors, its member firm and affiliate corporations for the services rendered to the Company and the Group for the financial year ended 31 December 2024 are as follows: Fees (RM’000) Group RM’000 Company RM’000 Type of Services / External Auditors Audit : Grant Thornton Malaysia PLT 118 28 : Member firm of Grant Thornton International 50 - : Other Auditors 101 - Total Audit Fees 269 28 Non-Audit : Grant Thornton Malaysia PLT 12 10 : Affiliate of Grant Thornton Malaysia PLT 34 3 Total Audit and Non-Audit Fees 315 41 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 3. MATERIAL CONTRACTS INVOLVING DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST There were no material contracts (not being contracts entered into in the ordinary course of business) entered into by the Company and/or its subsidiaries involving Directors’ and major shareholders’ interests, either still subsisting at the end of the financial year ended 31 December 2024 or entered into since the end of the previous financial year. 4. RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE At the last Thirty-First Annual General Meeting held on 7 June 2024, the Company had obtained a general mandate from its shareholders for the Company and its subsidiaries to enter into recurrent related party transactions of a revenue or trading nature (“Proposed Shareholders’ Mandate”). The details of the recurrent related party transactions conducted during the financial year ended 31 December 2024 pursuant to the Proposed Shareholders’ Mandate are disclosed in Note 30 to the financial statements in this Annual Report. The aggregate value of the recurrent related party transactions of a revenue or trading nature conducted pursuant to the Proposed Shareholders’ Mandate for the financial year ended 31 December 2024 did not exceed 10% of the percentage ratios as prescribed under Section 3.3(a) of the Practice Note 12 of Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
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