153 ANNUAL REPORT 2025 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 2025 are as follows: Fees (RM’000) Group RM’000 Company RM’000 Type of Services / External Auditors Audit : Grant Thornton Malaysia PLT 119 33 : Member firm of Grant Thornton International - - : Other Auditors 156 - Total Audit Fees 275 33 Non-Audit : Grant Thornton Malaysia PLT 14 11 : Affiliate of Grant Thornton Malaysia PLT 47 4 : Other Auditors 35 - Total Non-Audit Fees 96 15 Total Audit and Non-Audit Fees 371 48 The non-audit services include the following: l Review of Statement on Risk Management and Internal Control l Work pursuant to the requirement of ISA 600 l Sales verification l Tax compliance services 3. Material Contracts Involving Directors’ and Major Shareholders’ Interest On 23 October 2025, the Group entered into a Shareholders Agreement (“SHA”) with Mr. Ng Yap Sio and Mr. Low Kok Poh in relation to the incorporation of a 99.9998% owned subsidiary, namely MST Golf (Thailand) Company Limited (“MST Thailand”), as a private limited company under the Civil and Commercial Code of Thailand. All shareholders had subscribe to the Company's total paid-up capital, pro-rata to their respective shareholdings, for a total cash consideration of 100 million Thai Baht (THB) (equivalent to approximately RM12.91 million). The principal activities of MST Thailand are the retail sale of golf equipment, accessories and apparel, as well as related services.
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