FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 348 ADDITIONAL INFORMATION Utilisation of Proceeds There were no proceeds raised from corporate proposals during the financial year ended 31 December 2016. Non-audit Fees The amount of non-audit fees rendered to the Group by its external auditors, PricewaterhouseCoopers (PwC) for the financial year ended 31 December 2016 amounted to RM704,000 and within the allowable threshold. Material Contracts Save for those disclosed in the financial statements, there was no material contract entered into by the Company or its subsidiaries, either still subsisting at the end of the financial year ended 31 December 2016 or entered into since the end of the previous financial year. ADDITIONAL DISCLOSURE Revaluation Policy The Group does not have a regular revaluation policy on landed properties. Long Term Incentive Plan (LTIP) Details of the LTIP are provided on page 132 of this Annual Integrated Report 2016. Share Issuance Scheme There was no Share Issuance Scheme declared or implemented in 2016. Recurrent Related Party Transaction of Revenue or Trading Nature At the 8 th Annual General Meeting (AGM) held on 1 June 2016, the Company had obtained a Shareholders' mandate from its Shareholders for Recurrent Related Party Transaction of revenue or trading of nature to be entered into the Company and/or its subsidiaries (RRPT Shareholders' Mandate). The RRPT Shareholders' Mandate is valid until the conclusion of the forthcoming 9 th AGM of the Company to be held on 25 May 2017. The Company proposes to seek a renewal of the existing RRPT Mandate and the new RRPT Mandate at its forthcoming 9 th AGM. The renewal of the existing RRPT Mandate and the RRPT Mandate, if approved by the Shareholders, will be valid until the conclusion of the Company's next AGM. The details of the RRPT Mandate being sought are provided in the Circular to Shareholders dated 26 April 2017 which was sent together with the Annual Integrated Report. Pursuant to paragraph 10.09(2)(b) and paragraph 3.1.5 of Practice Note of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the details of the Recurrent Related Party Transaction of a revenue or trading nature entered into during the financial year ended 31 December 2016. No. Recipient Provider Nature of Transaction Related Party Value of Transaction (RM'000) 1. FELDA F Engineering Provision of maintenance and consultancy services InterestedMajor Shareholders: • FELDA • FAHC Interested Directors: • YB Tan Sri Haji Mohd. Isa Dato' Haji Abdul Samad • Datuk Hanapi Suhada 62,492 2. F Engineering FELDA Monthly payment of rental for office premises located at Menara Felda and Balai Felda having a lease period of three (3) years 1,060