DIRECTORS’ INTERESTS (CONTINUED)
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Out of 1,164,474 shares, 125,074 shares were derived from the distribution by WSC of a Special Single Tier Share Dividend.
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Out of 636,646 shares, 266,046 shares were derived from the distribution by WSC of a Special Single Tier Share Dividend.
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Out of 453,965 shares, 103,965 shares were derived from the distribution by WSC of a Special Single Tier Share Dividend.
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Out of 2,811,478 shares, 850,102 shares were derived from the distribution of a Single Tier Share Dividend by WST and 1,961,376 shares were derived from the distribution
by WSC of a Special Single Tier Share Dividend.
DIRECTORS’ BENEFITS
Since the end of the previous financial year, no Director has received or become entitled to receive a benefit (other than the benefits shown in Notes 38 and 46 to the financial
statements) by reason of a contract made by the Company or by a related corporation with the Director or with a firm of which the Director is a member, or with a company in
which the Director has a substantial financial interest.
Neither during nor at the end of the financial year was the Company or any of its subsidiaries a party to any arrangements whose object was to enable the Directors to acquire
benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.
OTHER STATUTORY INFORMATION
(a) Before the statements of profit or loss, statements of other comprehensive income and statements of financial position of the Group and of the Company were made out,
the Directors took reasonable steps:
(i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful debts and satisfied themselves
that all known bad debts had been written off and that adequate allowance had been made for doubtful debts; and
(ii) to ensure that any current assets, other than debts, which were unlikely to realise in the ordinary course of business their values as shown in the accounting records
of the Group and of the Company had been written down to an amount which they might be expected so to realise.
(b) At the date of this report, the Directors are not aware of any circumstances:
(i) which would render the amounts written off for bad debts or the amount of the allowance for doubtful debts in the financial statements of the Group and of the
Company inadequate to any substantial extent; or
(ii) which would render the values 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.
(c) At the date of this report, there does not exist:
(i) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year which secures the liabilities of any other person; or
(ii) any contingent liability of the Group and of the Company which has arisen since the end of the financial year.
(d) No contingent 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 affect the ability of the Company and its subsidiaries to meet their obligations as and when they
fall due.
Directors’ Report
49
Wah Seong Corporation Berhad • Annual Report 2014
