Dividend Policy

The Company presently adopts a dividend pay-out ratio of at least 50 percent of its profit after tax (PAT) attributable to Shareholders excluding non-recurrent income. As the Company is and investment holding company, its income and ability to pay dividends are dependent upon the dividend received from its subsidiaries, which in turn would be determined by the subsidiaries distributable profits, operating results, financial condition, capital expenditure plans and other relevant factors. It is the policy of the Board, in recommending dividends, to allow Shareholders to participate in the Company’s profits, as well as retain adequate reserves for future growth.

With the new Companies Act 2016 requirements, the Company shall perform a solvency test to ensure that the Company is solvent and able to guarantee continued operations subsequent to the declaration of the dividend. The Directors shall sign a statutory declaration verifying that the Company is solvent when declaring dividends.