2003 - KNM Steel Sdn Bhd

KNM GROUP BERHAD (521348-H)CORPORATE GOVERNANCE STATEMENTADDITIONAL COMPLIANCE INFORMATIONThe following additional information is provided in compliance with the Listing Requirements:1. Utilisation of proceedsAs at 31 December 2003, the proceeds raised by the Company from its floatation exercise have been utilised inthe following manner:TotalProceeds Utilised Unutilised(RM’000) (RM’000) (RM’000)Repayment of term loans 11,077 (10,874) 203Capital expenditure 8,190 (4,208) 3,982Listing expenses 1,500 (1,864) (364)Working capital 298 (298) –Total 21,065 (17,244) 3,8212. Share buybackThere was no share buyback by the Company during the financial year under review.3 Options, warrants or convertible securitiesNo options, warrants or convertible securities were issued by the Company during the financial year underreview.4. Imposition of sanctions and/or penaltiesThere was no sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or managementby regulatory authorities.5. Non-audit feesDuring the financial year ended 31 December 2003, non-audit fees amounting to RM162,292.50 were paid toMessrs KPMG by the Company and subsidiaries for services rendered.6. Profit estimates, forecasts or projectionsThere was no profit estimates, forecasts, projections and/or unaudited results made public which have a deviationof 10% or more from the unaudited results.7. Profit guaranteesNo profit guarantees was given by the Company for the financial year under review.8. Material contractsNo material contracts were entered into by the Company and its subsidiaries involving Directors and substantialshareholders’ interests.9. Contracts related to loansThere was no contracts relating to a loan by the Company and its subsidiaries in respect of the preceding item.10. Revaluation of landed propertiesThe Company’s revaluation policy is disclosed in Note (f) to the financial statements and the Directors’ Report.2003 ANNUAL REPORT23