ANNUAL REPORT 2015 |
89
DIRECTORS’ REPORT
(cont’d)
DIRECTORS’ BENEFITS
Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit (other
than a benefit included in the aggregate amount of emoluments received or due and receivable by the Directors as shown in the
financial statements) by reason of a contract made by the Company or 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 except for any benefit
which may be deemed to have derived by virtue of the remuneration received and receivable by certain Directors from the related
corporations in their capacity as directors of those related corporations and those transactions entered into in the ordinary course
of business with companies in which certain Directors of the Company and subsidiaries have substantial interests as disclosed in
Note 33 to the financial statements.
There were no arrangements during and at the end of the financial year, to which the Company is a party, which had the object of
enabling 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 REGARDING THE GROUP AND THE COMPANY
(I) AS AT THE END OF THE FINANCIAL YEAR
(a) Before the statements of profit or loss and 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 provision
for doubtful debts and have satisfied themselves that all known bad debts had been written off and that adequate
provision had been made for doubtful debts; and
(ii) to ensure that any current assets other than debts, which were unlikely to realise their book values in the ordinary
course of business had been written down to their estimated realisable values.
(b) In the opinion of the Directors, the results of the operations of the Group and of the Company during the financial year
have not been substantially affected by any item, transaction or event of a material and unusual nature.
(II) FROMTHE END OF THE FINANCIAL YEAR TO THE DATE OF THIS REPORT
(c) The Directors are not aware of any circumstances:
(i) which would render the amounts written off for bad debts or the amount of the provision for doubtful debts in the
financial statements of the Group and of the Company inadequate to any material extent;
(ii) which would render the values attributed to current assets in the financial statements of the Group and of the
Company misleading; and
(iii) which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the
Group and of the Company misleading or inappropriate.
