SUMMARY OF SIGNIFICANT RECURRENT
RELATED PARTY TRANSACTIONS
A. Transactions of A Revenue or Trading in Nature
Interested Related Party
Provider of Products /
Services
Recipient of Products /
Services
Actual Value Transacted
for the Financial Year
Ended 31 December 2014 Nature of Transaction
Dato’ Mohamed Nizam Bin Abdul Razak;
Mohd Azlan Bin Mohammed
Wasco Corrosion Services
Sdn Bhd and its subsidiaries
Wasco Coatings Malaysia
Sdn Bhd and its subsidiaries
RM6,859,132
Sale/Purchase of sacrificial
anodes and sub-contracting
Dato’ Mohamed Nizam Bin Abdul Razak is a common Director of Wasco Corrosion Services Sdn Bhd, Wasco Coatings
Malaysia Sdn Bhd and Wasco Lindung Sdn Bhd and a Major Shareholder by virtue of him holding 19.81% shares in Wasco
Oilfield Services Sdn Bhd, the immediate holding company of Wasco Corrosion Services Sdn Bhd.
Mohd Azlan Bin Mohammed is a common Director of Wasco Corrosion Services Sdn Bhd, Wasco Coatings Malaysia Sdn Bhd
and Wasco Lindung Sdn Bhd and a Major Shareholder by virtue of him holding 31.68% shares in Wasco Oilfield Services Sdn
Bhd (the immediate holding company of Wasco Corrosion Services Sdn Bhd) and 22.61% shares in Wasco Lindung Sdn Bhd
(the indirect subsidiary of Wasco Oilfield Services Sdn Bhd), respectively.
Dato’ Seri Robert Tan Chung Meng;
Pauline Tan Suat Ming; Tony Tan @
Choon Keat; Tan Chin Nam Sdn Bhd; Tan
Kim Yeow Sendirian Berhad; Wah Seong
(Malaya) Trading Co. Sdn Bhd
IGB Corporation Berhad
Group of Companies
Wasco Management Services
Sdn Bhd
RM1,121,270
Rental of premise and related
facilities
Dato’ Seri Robert Tan Chung Meng is a Director of Wah Seong Corporation Berhad Group and IGB Corporation Berhad Group
and also a common Major Shareholder of Wah Seong Corporation Berhad and IGB Corporation Berhad. His total direct and
indirect shareholdings in Wah Seong Corporation Berhad and IGB Corporation Berhad are 39.60% and 73.39% respectively.
Pauline Tan Suat Ming is a common Director and common Major Shareholder of Wah Seong Corporation Berhad and IGB
Corporation Berhad. Her total direct and indirect shareholdings in Wah Seong Corporation Berhad and IGB Corporation Berhad
are 38.56% and 73.33% respectively.
Tony Tan @ Choon Keat, Tan Chin Nam Sdn Bhd, Tan Kim Yeow Sendirian Berhad and Wah Seong (Malaya) Trading Co. Sdn
Bhd are common Major Shareholders of Wah Seong Corporation Berhad and IGB Corporation Berhad. Their total direct and/
or indirect shareholdings in Wah Seong Corporation Berhad are 38.19%, 33.26%, 38.19% and 33.14% respectively. The total
direct and/or indirect shareholdings of Tony Tan @ Choon Keat, Tan Chin Nam Sdn Bhd, Tan Kim Yeow Sendirian Berhad and
Wah Seong (Malaya) Trading Co. Sdn Bhd in IGB Corporation Berhad are 73.32%, 73.35%, 73.32% and 73.32% respectively.
Toni Karmawan
PT PMT Phoenix Industries
PT Agrindo Prima Lestari
RM1,141,889
Sale/Purchase of industrial
fans and component parts
Toni Karmawan is a common Director of PT PMT Phoenix Industries and PT Agrindo Prima Lestari. He is also a Major
Shareholder by virtue of him holding 30% shares in PT Agrindo Prima Lestari.
.
172
Wah Seong Corporation Berhad • Annual Report 2014
