Summary of proceedings and salient points raised during the Thirteenth Annual General Meeting of the Company (“13th AGM”)

Dato’ Nik Mohamed Din bin Datuk Nik Yusoff (“Dato’ Chairman”) chaired the 13th AGM of the Company. Dato’ Chairman called the meeting to order at 9:30 am after confirmation of the requisite quorum being present pursuant to Article 54 of the Company’s Articles of Association.

Dato’ Chairman informed that the Listing Requirements of Bursa Malaysia Securities Berhad has mandated poll voting for all resolutions set out in the notice of general meetings with effect from 1 July 2016.

Pursuant to the above and Article 58 of the Company’s Articles of Association, Dato’ Chairman exercised his right to direct the vote on all resolutions of the Meeting to be conducted by way of poll.

All the resolutions tabled at 13th AGM of the Company held on 18 April 2017 were duly passed by the shareholders as set out in the Notice of 13th AGM. The shareholders also received the Audited Financial Statements of the Company and of the Group, together with the Reports of the Directors and Auditors thereon, for the financial year ended 31 December 2016.

The shareholders raised questions during the 13th AGM, which were duly answered and clarified by the Directors. The salient questions raised by the shareholders are as follows:-

Q1: For the private equity investments, how successful is the Group’s performance in this sector?

A1: The Group has performed reasonably well in its private equity investments over the past few years. Generally, investments in private equity by the Group would take time to realise its profits. Meanwhile, the Group had also invested in public equity investments which normally provide returns within a shorter timeline.

Q2: In the Statement of Financial Position, the cash, bank balances and cash management fund of the Group amounted to RM91.4 million. What is the management’s intention for the cash reserves?

A2: The management’s intention is to further invest in both private and public investments. In fact, the Group has already deployed a significant portion of the funds for investments purpose and would continue to invest diligently.

Dato’ Chairman informed the Meeting that Tan Sri Ong Leong Huat @ Wong Joo Hwa (“Tan Sri Ong”) and himself do not wish to seek for re-appointment at this Meeting. Thus, Tan Sri Ong and Dato’ Chairman would retain office until the close of this Meeting.

Mr. Patrick Yee Chee Wai, the Executive Director / Chief Operating Officer of the Company, on behalf of the Board of Directors thanked Dato’ Chairman and Tan Sri Ong for the years of service and immense contribution as Chairman and Director of the Company.

There being no other business, Dato’ Chairman concluded the 13th AGM and thanked all present for their attendance. The meeting ended at 10:22 am, with a vote of thanks to the Chair.