IGB CORPORATION BERHAD PART A STATEMENT in relation to ...

(a)(b)the transactions are in the ordinary course of business and are on terms not more favourable tothe related party than those generally available to the public;the shareholders' mandate is subject to annual renewal and disclosure is made in the annualreport of the aggregate value of transactions conducted pursuant to the shareholders' mandateduring the financial year where:(i) the consideration, value of the assets, capital outlay or cost of the aggregated transactions isequal to or exceeds RM1 million; or(ii) any one of the percentage ratios of such aggregated transactions is equal to or exceeds 1%,whichever is the lower;(c)(d)the listed issuer to issue circular to shareholders in relation to the shareholders’ mandate; andin a meeting to obtain the shareholders’ mandate, the interested director, interested majorshareholder or interested person connected with a director or major shareholder; and where itinvolves the interest of an interested person connected with a director or major shareholder, suchdirector or major shareholder, must not vote on the resolution approving the transactions. Aninterested director or interested major shareholder must ensure that persons connected with himabstain from voting on the resolution approving the transactions.Where the Company has obtained the shareholders’ mandate in respect of Recurrent RPTs, theprovisions under Paragraph 10.08 of the Listing Requirements shall not apply during the validity periodof the shareholders’ mandate.2.2 Details of Proposed Shareholders’ MandateIGB is an investment holding and property development company while the principal activities of itssubsidiaries are investment holding, property investment & management, property holding, propertydevelopment, provision of property management & security services, project management services,servicing and maintenance of elevators & engineering services, hotelier, provision of hotel management& consultancy services, construction, provision of exhibition services, home furnishing and operating offood court.The Company proposes to seek its shareholders’ approval for the Proposed Shareholders’ Mandate toenable the Group to enter into Recurrent RPTs with the classes of Related Parties as set out in Section2.2.2 below. The Proposed Shareholders’ Mandate will take effect from the passing of the ordinaryresolution at the forthcoming 42 nd AGM and will continue to be in force (unless revoked or varied by theCompany in general meeting) until the conclusion of the next AGM of the Company or the expiry of theperiod within which the next AGM of the Company is required to be held pursuant to Section 143(1) ofthe Act (but shall not extend such extension as may be allowed pursuant to Section 143(2) of the Act),or revoked or varied by resolution passed by the shareholders in general meeting, whichever is theearlier.2.2.1 Nature of Recurrent RPTsThe Recurrent RPTs to be covered by the Proposed Shareholders’ Mandate are set out below:Nature of TransactionsRefer ToFinancial assistance Pooling of funds within IGB Group via a centralised treasurymanagement function on a short or medium term basis.Provision of guarantee, indemnity or such other collateral toor in favour of another person which is necessary in order toprocure a contract or secure work from the other person orto enable the other person to commence and/or complete acontract of work for IGB GroupPage 7