FGV Annual Report 2020

250 FGV HOLDINGS BERHAD Annual Integrated Report 2020 UTILISATION OF PROCEEDS There were no proceeds raised from corporate proposals during the financial year ended 31 December 2020. NON-AUDIT FEES The amount of non-audit fees rendered to the Group by its external auditors, PricewaterhouseCoopers PLT (PwC), for the financial year ended 31 December 2020 amounted to RM602,000 and was within the allowable threshold. MATERIAL CONTRACTS There was no material contract entered into by the Company or its subsidiaries either still subsisting at the end of the financial year 2020 or entered into since the end of the previous financial year ended 31 December 2019. LONG TERM INCENTIVE PLAN (LTIP) Details of the LTIP are provided on page 3 of FGV Audited Financial Statements 2020. SHARE ISSUANCE SCHEME There was no Share Issuance Scheme declared or implemented in 2020. RECURRENT RELATED PARTY TRANSACTION OF REVENUE OR TRADING NATURE At the 12 th AGM held on 19 June 2020, the Company had obtained a general mandate from its Shareholders’ for the existing recurrent related party transactions of a revenue or trading nature, to be entered into by FGV and its Group of Companies (“FGV Group”) as set out in the Circular to Shareholders dated 28 May 2020 (RRPT Mandate). The RRPT Mandate is valid until the conclusion of the forthcoming 13 th AGM of the Company. Pursuant to paragraph 10.09(2)(b) and paragraph 3.1.5 of Practice Note 12 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the details of the recurrent related party transactions of a revenue or trading nature entered into during the financial year ended 31 December 2020 are as follows: Additional Disclosure Item Transacting Related Party Recipient Provider Interested Major Shareholders/Directors and persons connected with them Nature of RRPT Value of Transaction (RM’000) 1 KPF-Linked Subsidiaries, MSM Group of Companies & FGV Trading FGV Group Interested Major Shareholders: • FELDA • FAHC Interested Directors: • Dato’ Amiruddin Abdul Satar • Dato’ Shahrol Anuwar Sarman • Dato’ Othman Omar • Mohd Hassan Ahmad Interested Directors in KPF-Linked Subsidiaries* Interested person connected: • KPF Provision of management and shared services 64,293