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MIGHT Directors’ Report And Audited Financial Statements 2020
DIRECTORS’ BENEFITS
Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit (other than a benefit included in the aggregate amount of remuneration received or due and receivable by the Directors as shown in the financial statements) 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 substan- tial financial interest other than the remuneration received by certain Directors as director/executives of its related corporation. There were no arrangements made during and at the end of the financial year, to which the Company is a party, which had the object of enabling the Directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate.
DIRECTORS’ REMUNERATION The details of Directors’ remuneration are disclosed in Note 21(c) to the financial statements.
There were no indemnity given to or insurance e ected for the Directors and o cers of the Group and of the Company during the financial year. INDEMNITY AND INSURANCE FOR DIRECTORS, OFFICERS AND AUDITORS
There were no indemnity given to or insurance e ected for the auditors of the Group and of the Company during the financial year.
OTHER STATUTORY INFORMATION REGARDING THE GROUP AND THE COMPANY
(I) AS AT THE END OF THE FINANCIAL YEAR
Before the financial statements of the Group and of the Company were made out, the Directors took reason- able steps:
(a)
to ascertain that proper action had been taken in relation to the writing o of bad debts and the making of provision for doubtful debts and have satisfied themselves that all known bad debts had been written o and that adequate provision had been made for doubtful debts; and
(i)
to ensure that any current assets other than debts, which were unlikely to realise their book values in the ordinary course of business had been written down to their estimated realisable values.
(ii)
In the opinion of the Directors, the results of the operations of the Group and of the Company during the financial year have not been substantially a ected by any item, transaction or event of a material and unusual nature. (b)
(II) FROM THE END OF THE FINANCIAL YEAR TO THE DATE OF THIS REPORT
The Directors are not aware of any circumstances: which would render the amounts written o for bad debts or the amounts of the provision for doubtful debts in the financial statements of the Group and of the Company inadequate to any material extent; (i)
(c)
which would render the values attributed to current assets in the financial statements of the Group and of the Company misleading; and
(ii)
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