Press Metal Annual Report 2023

Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 210 211 Integrated Annual Report 2023 Directors’ Report For the year ended 31 December 2023 ISSUE OF SHARES AND DEBENTURES There were no changes in the issued and paid-up capital of the Company during the financial year. There were no debentures issued during the financial year. OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up unissued shares of the Company during the financial year. INDEMNITY AND INSURANCE COSTS During the financial year, the total amount of indemnity sum insured and premium paid for Directors and officers of the Company are RM30,000,000 and RM142,000 respectively. This sum exclude coverage for the auditors of the Company. OTHER STATUTORY INFORMATION Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that: i) all known bad debts have been written off and adequate provision made for doubtful debts, and ii) any current assets which were unlikely to be realised in the ordinary course of business have been written down to an amount which they might be expected so to realise. At the date of this report, the Directors are not aware of any circumstances: i) that would render the amount written off for bad debts or the amount of the provision for doubtful debts in the Group and in the Company inadequate to any substantial extent, or ii) that would render the value attributed to the current assets in the financial statements of the Group and of the Company misleading, or iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate, or iv) not otherwise dealt with in this report or the financial statements that would render any amount stated in the financial statements of the Group and of the Company misleading. At the date of this report, there does not exist: i) any charge on the assets of the Group or of the Company that has arisen since the end of the financial year and which secures the liabilities of any other person, or ii) any contingent liability in respect of the Group or of the Company that has arisen since the end of the financial year. OTHER STATUTORY INFORMATION (CONT’D) No contingent liability or other liability of any company in the Group has become enforceable, or is likely to become enforceable within the period of twelve months after the end of the financial year which, in the opinion of the Directors, will or may substantially affect the ability of the Group and of the Company to meet their obligations as and when they fall due. In the opinion of the Directors, the financial performance of the Group and of the Company for the financial year ended 31 December 2023 have not been substantially affected by any item, transaction or event of a material and unusual nature nor has any such item, transaction or event occurred in the interval between the end of that financial year and the date of this report. SIGNIFICANT EVENTS The significant events are disclosed in Note 34 to the financial statements. SUBSEQUENT EVENT The subsequent event is disclosed in Note 35 to the financial statements. AUDITORS The auditors, KPMG PLT, have indicated their willingness to accept re-appointment. The auditors’ remuneration of the Group and of the Company during the year are as follows: Group RM’000 Company RM’000 KPMG PLT 1,587 325 Overseas affiliates of KPMG PLT 100 - Other auditors 867 - 2,554 325 Signed on behalf of the Board of Directors in accordance with a resolution of the Directors: Tan Sri Dato’ Koon Poh Keong Koon Poh Ming Director Director Petaling Jaya, Selangor Date: 22 April 2024 Directors’ Report For the year ended 31 December 2023

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