78
ANNUAL REPORT 2016
DIRECTORS’ INTERESTS (continued)
Number of ordinary shares of SGD1.00 each
Balance
as at
1.7.2015
Additions
Sold/
Transferred
Balance
as at
30.6.2016
Shares in a subsidiary
Jeco (Pte) Limited
Indirect interests
Dato’ Sri Chiang Fong Seng
50,000
-
-
50,000
By virtue of his substantial interests in the Company, Chiang Sang Sem is also deemed to be interested in the ordinary shares of all the subsidiaries
to the extent that the Company has an interest.
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 34 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 ended 30 June
2016 have not been substantially affected by any item, transaction or event of a material and unusual nature.
Directors’ report
(Continued)
