FGV Annual Report 2018

359 UPHELD THE HIGHEST STANDARDS OF DISCLOSURE 01 02 05 03 07 06 04 08 09 ANNUAL INTEGRATED REPORT 2018 ADDITIONAL DISCLOSURE UTILISATION OF PROCEEDS There were no proceeds raised from corporate proposals during the financial year ended 31 December 2018. NON-AUDIT FEES The amount of non-audit fees rendered to the Group by its external auditors, PricewaterhouseCoopers PLT (PwC) for the financial year ended 31 December 2018 amounted to RM54,000 and within the allowable threshold. MATERIAL CONTRACTS Save for those disclosed in the Financial Statements, there was no other material contract entered into by the Company or its subsidiaries either still subsisting at the end of the financial year 2018 or entered into since the end of the previous financial year ended 31 December 2017. LONG TERM INCENTIVE PLAN (LTIP) Details of the LTIP are provided on page 108 of this Annual Integrated Report 2018. SHARE ISSUANCE SCHEME There was no Share Issuance Scheme declared or implemented in 2018. RECURRENT RELATED PARTY TRANSACTION OF REVENUE OR TRADING NATURE At the 10 th Annual General Meeting (AGM) held on 28 June 2018, the Company had obtained a Shareholders’ mandate from its Shareholders for Recurrent Related Party Transaction of revenue or trading of nature to be entered into the Company and/or its subsidiaries (RRPT Shareholders’ Mandate). The RRPT Shareholders’ Mandate is valid until the conclusion of the forthcoming 11 th AGM of the Company to be held on 25 June 2019. The Company proposes to seek a renewal of the existing RRPT Mandate and the new RRPT Mandate at its forthcoming 11 th AGM. The renewal of the existing RRPTMandate and the RRPTMandate, if approved by the Shareholders, will be valid until the conclusion of the Company’s next AGM. The details of the RRPT Mandate being sought are provided in the Circular to Shareholders dated 29 April 2019 which was sent together with the Annual Integrated Report. Pursuant to paragraph 10.09(2)(b) and paragraph 3.1.5 of Practice Note of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the details of the Recurrent Related Party Transaction of a revenue or trading nature entered into during the financial year ended 31 December 2018. A. Details of the RRPTs entered into by the FGVGroup with the Related Parties under the Proposed Renewal of Shareholders’ Mandate Item Transacting Related Parties Interested Major Shareholders/ Directors and persons connected with them Nature of RRPT Value of Transaction (RM’000) Recipient Provider 1. KPF-Linked Subsidiaries, MSM Group of Companies & FGV Trading FGV Group Interested Major Shareholders are FELDA and FAHC Interested Directors are: Dato’ Othman Omar, Datuk Wira Azhar, Dato’ Ab Ghani Mohd Ali, Datuk Khamis Mohamed Som, Rahayu Mahat @ Taib, Zaid Sidek, Dato’ Safariah Awang Ngah, Anuar Malek, Sakinah Salleh, Abu Bakar Ibrahim, Dato’ Saari Din, Samsudin Othman, Dato’ Zainal Hassan, Dato’ Ramli Ismail and Saodah Sudi Interested person connected is KPF Provision of management and shared services 121,996