FGV Audited Financial Statements 2020

STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS (CONTINUED) No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve (12) months after the end of the financial year which, in the opinion of the Directors, will or may affect the ability of the Group or the Company to meet their obligations when they fall due. At the date of this report, there does not exist: (a) any charge on the assets of the Group and of the Company which has arisen since the end of the financial year which secures the liability of any other person; or (b) any contingent liability of the Group and of the Company which has arisen since the end of the financial year. At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or the financial statements which would render any amount stated in the financial statements misleading. In the opinion of the Directors: (a) the results of the Group’s and the Company’s operations during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature, other than as disclosed in Notes 8, 9, 20, 24, 29 and 59 to the financial statements; and (b) there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely to affect substantially the results of the operations of the Group or the Company for the financial year in which this report is made, other than as disclosed in Note 60 to the financial statements. ULTIMATE HOLDING COMPANY As disclosed in Note 59(xii), following the unconditional mandatory take over offer from Federal Land Development Authority (“FELDA”) and subsequent to the completion of the acquisition of 283,710,100 of the Company shares from Urusharta Jamaah Sdn. Bhd. and 222,480,700 of the Company shares from Kumpulan Wang Persaraan (Diperbadankan) on 24 December 2020, the shareholding of FELDA in the Company increased to approximately 35.12% and the collective shareholding of the FELDA and the Persons Acting in Concerts in FELDA increased to approximately 50.49%. Consequently, FELDA is deemed as the ultimate holding company of the Company. AUDITORS The auditors, PricewaterhouseCoopers PLT (LLP0014401-LCA & AF 1146), have expressed their willingness to continue in office. This report was approved by the Board of Directors on 31 March 2021. Signed on behalf of the Board of Directors: DATUK WIRA AZHAR ABDUL HAMID DATUK MOHD ANWAR YAHYA CHAIRMAN DIRECTOR Kuala Lumpur Directors’ Report 5 Audited Financial Statements 2020