INTERESTED PERSON TRANSACTIONS
The Company has adopted an internal policy in respect of any transactions with interested
persons and has set out the procedures for quarterly review by the AC and approval of the
interested person transactions to be entered into by the Group to ensure that all transactions
with interested persons are reported in a timely manner to the AC and that transactions are
conducted on an arm’s length basis on terms that are not prejudicial to the interests of the
shareholders.
The Group does not have a general mandate from shareholders for interested person
transactions pursuant to Rule 920 of the SGX-ST Listing Manual. Interested person transactions
that were entered into by the Group for the financial year ended 30 June 2015 as required
under Rule 907 of the SGX-ST Listing Manual were as follows:
Name of Interested Person
Aggregate value of all interested person
transactions during the financial year
under review (excluding transactions
less than $100,000 and transactions
conducted under shareholders’ mandate
pursuant to Rule 920)
$’000
Koon Construction & Transport Co Pte Ltd
- Charter income
- Cost of good sold
704
(546)
PT. Sindomas Precas
- Rental income
743
Bukit Intan Pte Ltd
- Charter income
3,475
Koon Holdings Limited
- Consultation fee
(372)
MATERIAL CONTRACTS AND LOANS
Pursuant to Rule 1207(8) of the Listing Manual of the SGX-ST, except as disclosed in the
Directors’ Report and Notes to the Financial Statements, the Company and its subsidiary
companies did not enter into any material contracts and loans involving the interests of
any directors or any controlling shareholders of the Company or its associates during the
financial year.
CORPORATE GOVERNANCE
REPORT
ASL Marine Holdings Ltd. /Annual Report 2015
47
