Annual Report 2020

Issue of shares and debentures There were no changes in the issued and paid-up capital of the Company during the financial year. There were no debentures issued during the financial year. Options granted over unissued shares No options were granted to any person to take up unissued shares of the Company during the financial year. Share buy-back The shareholders of the Company, by an ordinary resolution passed in the Annual General Meeting held on 29 August 2019, renewed the Company’s plan to buy-back its own shares. There was no share buy-back during the financial year. Indemnity and insurance costs The following disclosure on particulars of indemnity given to, or insurance effected for, any Director or officer of the Company is made pursuant to Section 289(7) of the Companies Act 2016: Amount paid RM Sum insured RM Directors and Officers Liability Insurance 25,000 20,000,000 There was no indemnity given to, or insurance effected for auditors of the Company during the financial year. Other statutory information Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that: i) all known bad debts have been written off and adequate provision made for doubtful debts, and ii) any current assets which were unlikely to be realised in the ordinary course of business have been written down to an amount which they might be expected so to realise. At the date of this report, the Directors are not aware of any circumstances: i) that would render the amount written off for bad debts or the amount of the provision for doubtful debts in the Group and in the Company inadequate to any substantial extent, or ii) that would render the value attributed to the current assets in the financial statements of the Group and of the Company misleading, or iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate, or iv) not otherwise dealt with in this report or the financial statements that would render any amount stated in the financial statements of the Group and of the Company misleading. Annual Report | 2020 QL Resources Berhad 98 Directors' Report For the Year Ended 31 March 2020