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Financial Reports &
Governance HENGYUAN REFINING COMPANY BERHAD l ANNUAL REPORT 2023 85
Other Information

DIRECTORS’ REPORT

DIRECTORS’ INTERESTS IN SHARES AND DEBENTURE
According to the Register of Directors’ Shareholdings required to be kept under Section 59 of the Companies Act 2016, none of the
Directors who held office at the end of the financial year held any shares or debentures in the Company or its holding company during
the financial year.

DIRECTORS’ REMUNERATION
The aggregate amounts of emoluments received and/or receivable by the Directors of the Company during the financial year are as
follows:
RM’000
Fees and allowances 1,922

INDEMNITY AND INSURANCE COSTS

Indemnity insurance for Directors and Officers of the Company during the financial year amounted to RM72,000.
STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS

Before the financial statements were prepared, the Directors took reasonable steps:
(a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for
doubtful debts and satisfied themselves that there were no known bad debts and that adequate provision had been made for
doubtful debts; and
(b) to ensure that any current assets which were unlikely to be realised in the ordinary course of business including the values of
current assets as shown in the accounting records of the Company had been written down to an amount which the current
assets might be expected so to realise.
At the date of this report, the Directors are not aware of any circumstances:
(a) which would render the amount written off for bad debts or the amount of the provision for doubtful debts inadequate to any
substantial extent; or
(b) which would render the values attributed to current assets in the financial statements of the Company misleading; or
(c) which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Company
misleading or inappropriate.
No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after
the end of the financial year which, in the opinion of the Directors, will or may substantially affect the ability of the Company to meet
its obligations when they fall due.
At the date of this report, there does not exist:
(a) any charge on the assets of the Company which has arisen since the end of the financial year which secures the liability of any
other person except as disclosed in Note 13, 15, 16, 17 and 26 to the financial statements; and
(b) any contingent liability 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 of the Company, which would render any amount stated in the financial statements misleading.

In the opinion of the Directors:
(a) the results of the Company’s operations during the financial year were not substantially affected by any item, transaction or
event of a material and unusual nature; 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 Company for the financial year
in which this report is made.