TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
28
OTHER STATEMENTS AND DISCLOSURES
STATEMENT ON DIRECTORS’ RESPONSIBILITY FOR PREPARING THE ANNUAL FINANCIAL STATEMENTS
The Directors are required by the Companies Act, 1965 (“Act”) to prepare financial statements for each financial year which
give a true and fair view of the state of affairs of the Company and the Group and their results for the financial year.
In preparing the financial statements for the financial year ended 31 December 2014, the Directors have:
(i) adopted the appropriate accounting policies, which are consistently applied;
(ii) made judgments and estimates that are reasonable and prudent; and
(iii) ensured that applicable approved accounting standards in Malaysia and provisions of the Act are complied with.
The Directors are responsible for ensuring that the Company and the Group keep accounting records which disclose, with
reasonable accuracy, the financial position of the Company and the Group and which enable them to ensure that the financial
statements comply with the Act. The Directors have the general responsibility for taking such steps as are reasonably open to
them to safeguard the assets of the Group and to prevent and detect fraud as well as other irregularities.
MATERIAL CONTRACTS
There were no material contracts (not being contracts entered into in the ordinary course of business) entered into by the
Company and/or its subsidiaries involving Directors’ and major shareholders’ interests, either still subsisting at the end of the
financial year or entered into since the end of the previous financial year.
NON-AUDIT FEES
The amount of non-audit fees incurred for services rendered to the Group for the financial year ended 31 December 2014 by
KPMG, auditors for Tan Chong Motor Holdings Berhad, was RM253,193.
SHARE BUY-BACKS
Details of the shares bought back during the financial year ended 31 December 2014 and currently held as treasury shares
are as follows:
Year 2014
No. of shares
bought back
and held
as treasury
shares
Highest price
paid per
share
(RM)
Lowest price
paid per
share
(RM)
Average
price paid
per share
(RM)
Total
Consideration
Paid
(RM)
May
1,000
5.380
5.380
5.380
5,427.62
December
1,000
3.910
3.910
3.910
3,955.18
December
50,000
3.430
3.420
3.429 172,202.84
Total
52,000
181,585.64
There was no re-sale nor cancellation of treasury shares during the financial year.
