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Director’s interests in shares and debentures (cont’d)
Notes:
(1)
Universal Pte. Ltd. is an investment holding company incorporated in Singapore with an issued and paid up share capital of
$4,839,000. Universal Pte. Ltd. is a controlling shareholder of the Company.
By virtue of Section 7 of the Singapore Companies Act, Cap. 50, Messrs. Loh Ah Peng @ Loh Ee Ming and Loh Mun
Yew are deemed to have an interest in the shares held by the holding company, Universal Pte. Ltd., in the Company
and in all its subsidiary companies.
There was no change in any of the above-mentioned interests in the Company between the end of the financial year
and 21 January 2013.
Except as disclosed in the report, no director who held office at the end of the financial year had interest in shares
or debentures of the Company, or of related corporations, either at the beginning of the financial year, or date of
appointment if later, or at the end of the financial year.
Director’s contractual benefits
Except as disclosed in the financial statements, since the end of the previous financial year, no director has received
or become entitled to receive a benefit (other than a benefit or any fixed salary of a full-time employee of the
Company included in the aggregate amount of emoluments shown in the financial statements, or any emoluments
received from a related corporation) by reason of a contract made by the Company or a related corporation with the
director or with a firm of which the director is a member, or with a company in which the director has a substantial
financial interest.
Options
No options to take up unissued shares of any company in the Group were granted during the financial year. As at
31 December 2012, no options over unissued shares of the Company or its subsidiary companies were outstanding.
Audit committee
The AC carried out its functions in accordance with section 201B (5) of the Singapore Companies Act, Cap. 50.
The AC, having reviewed all non-audit services provided by the external auditors to the Group, is satisfied that the
nature and extent of such services would not affect the independence of the external auditors. The AC has also
conducted a review of interested person transactions.
The AC has met with external auditors, without the presence of the Company’s management, at least once a year.
Further details regarding the AC are disclosed in the Corporate Governance Report section of this Annual Report.
Directors’
Report
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