Page 167 - Full Book_24.4.2021

DIRECTORS’ REPORT

for the financial year ended 31 december 2020 (continUed) in retrospect
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the Will to Suceed

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RESERVES AND PROVISIONS
there were no material transfers to or from reserves or provisions during the financial year under review except as disclosed in the
financial statements. achieving a leading repute
ISSUE OF SHARES AND DEBENTURES

during the financial year, the company increased its issued and paid-up capital from 1,764,282,714 to 1,792,663,814 via the issuance |
of 28,381,100 new ordinary shares at a consideration of rm3.68 each arising from the dividend reinvestment Plan.
no warrants were converted during the financial year ended 31 december 2020 (2019: nil).

there were no other changes in the issued and paid-up capital of the company during the financial year. Paving the Way for a Sustainable future
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. as at 31 december 2020,
426,715,078 warrants remained unexercised.
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IMPAIRED FINANCING

before the financial statements of the Group and of the company were made out, the directors took reasonable steps to ascertain that
proper actions had been taken in relation to the writing off of bad financing and the making of impairment provisions for impaired
financing, and have satisfied themselves that all known bad financing have been written off and adequate impairment provisions made
for impaired financing.

at the date of this report, the directors are not aware of any circumstances that would render the amount written off for bad adhering to the best Governance Practices
financing, or the amount of impairment provisions for impaired financing in the financial statements of the Group and of the company,
inadequate to any substantial extent.
CURRENT ASSETS |

before the financial statements of the Group and of the company were made out, the directors took reasonable steps to ascertain that
any current assets, other than financing, which were unlikely to be realised in the ordinary course of business at their values as shown
in the accounting records of the Group and of the company have been written down to their estimated realisable value.
at the date of this report, the directors are not aware of any circumstances that would render the values attributed to the current assets Laying the Foundation for Financial Growth
in the financial statements of the Group and of the company to be misleading.
VALUATION METHODS

at the date of this report, the directors are not aware of any circumstances which have arisen which render adherence to the existing
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methods of valuation of assets or liabilities of the Group and of the company to be misleading or inappropriate.
CONTINGENT AND OTHER LIABILITIES

at the date of this report, there does not exist:
(a) 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 additional information & disclosure Summary
the liabilities of any other person, or
(b) any contingent liability in respect of the Group or of the company that has arisen since the end of the financial year other than
those incurred in the ordinary course of the business.
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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 24 th aGm information
the ability of the Group and of the company to meet their obligations as and when they fall due.