Directors - Boustead Holdings Berhad

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Directors’ Report DIRECTORS’ INTERESTS According to the register of Directors’ shareholding, the interests of Directors in office at the end of the financial year in shares, warrants and options over shares of the Company and its related corporations were as follows: Boustead Holdings Berhad Shares of RM0.50 each 66 At At 1/1/06 Acquired Sold 31/12/06 Y. Bhg. Tan Sri Dato’ Lodin Wok Kamaruddin 10,092,800 400,000 –– 10,492,800 Tuan Hj. Johari Muhamad Abbas 66,666 –– –– 66,666 Shares of RM1.00 each Boustead Properties Berhad Tuan Hj. Johari Muhamad Abbas 42,500 –– –– 42,500 Y. Bhg. Datuk Azzat Kamaludin 5,000 –– –– 5,000 Affin Holdings Berhad Y. Bhg. Gen. (R) Tan Sri Dato’ Mohd Ghazali Hj. Che Mat 91,708 –– –– 91,708 Y. Bhg. Tan Sri Dato’ Lodin Wok Kamaruddin 8,714 –– –– 8,714 Tuan Hj. Johari Muhamad Abbas 27,000 –– –– 27,000 Y. Bhg. Datuk Azzat Kamaludin 110,000 –– –– 110,000 Affin Holdings Berhad – Warrants (W2/W3) Number of Units Y. Bhg. Tan Sri Dato’ Lodin Wok Kamaruddin 1,500 –– –– 1,500 Tuan Hj. Johari Muhamad Abbas 5,000 –– –– 5,000 Y. Bhg. Datuk Azzat Kamaludin 22,500 –– –– 22,500 At At 1/1/06 Granted Exercised 31/12/06 Boustead Holdings Berhad Options over Ordinary Shares of RM0.50 each Y. Bhg. Tan Sri Dato’ Lodin Wok Kamaruddin 400,000 –– (400,000) ––
DIRECTORS’ INTERESTS (cont’d.) The Board of Directors had offered Y. Bhg. Tan Sri Dato’ Lodin Wok Kamaruddin an option to acquire existing ordinary shares of RM1.00 each of up to five percent (5%) of the enlarged issued and paid up capital of Boustead Petroleum Sdn Bhd. The option comprising 4,087,500 ordinary shares of RM1 each will be issued for cash at par together with holding costs of 6% per annum chargeable on a monthly rest basis. The option which is yet to be exercised will expire on 16 May 2007. ISSUE OF SHARES During the financial year, the Company’s issued and paid up share capital was increased from RM296,045,144 to RM299,134,994 through the issuance of 6,179,700 ordinary shares of RM0.50 for cash at exercise prices ranging from RM1.34 to RM1.50 per ordinary share. The new ordinary shares issued during the financial year rank pari passu with the existing ordinary shares. EMPLOYEES’ SHARE OPTION SCHEME The Boustead Holdings Berhad Employees’ Share Option Scheme (ESOS) is governed by the by-laws approved by the shareholders at the Extraordinary General Meeting held on 27 April 2001. This Scheme replaces the previous ESOS that expired on 13 June 2001. The ESOS which was implemented on 22 July 2001 had expired on 22 July 2006. The movement in the options to take up unissued new ordinary shares of RM0.50 each is set out in Note 26 to the financial statements. OTHER STATUTORY INFORMATION (a) Before the income statements and balance sheets 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 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 which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had been written down to an amount which they might be expected so to realise. (b) At the date of this report, the Directors are not aware of any circumstances which would render: (i) the amount written off for bad debts or the amount of the provision for doubtful debts in the financial statements of the Group and the Company inadequate to any substantial extent; and (ii) the values attributed to the current assets in the financial statements of the Group and of the Company misleading. (c) At the date of this report, the Directors are not aware of any circumstances which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate. 67
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www.boustead.com.my Boustead Holdin
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annual report
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Standing from left Y. BHG. LT. GEN.
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Y. BHG. TAN SRI DATO’ LODIN WOK K
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Y. BHG. DATUK AZZAT KAMALUDIN Non-I
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Corporate Calendar FINANCIAL YEAR 1
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En Hussin Abdul Jalil Boustead Esta
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Puan Azizah Aris Boustead Emasewa P
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Page 37 and 38: AL-HADHARAH BOUSTEAD REIT The key h
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Page 45 and 46: Financial Highlights Average Prices
Page 47 and 48: As one of the leading GLCs and key
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Page 51 and 52: This shopping and dining haven was
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Boustead Group 140 Group Interest %
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Boustead Group 142 Group Interest %
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Additional Disclosure (Pursuant to
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Recurrent Related Party Transaction
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Recurrent Related Party Transaction
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Group Property Portfolio 150 Age of
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Group Oil Palm Agricultural Statist
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Location of Group Plantation Proper
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Shareholding Statistics 166 AS AT 3
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Statement of Directors’ Interest
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Notice of Annual General Meeting NO
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Boustead Management Services Sdn Bh
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Directors - Boustead Holdings Berhad

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