SUMMARY OF SIGNIFICANT RECURRENT
RELATED PARTY TRANSACTIONS
B. Group Financial and/or Treasury Management
Interested Related Party
Lender
Borrower
Actual Value Transacted
for the Financial Year
Ended 31 December 2014 Nature of Transaction
Dato’ Mohamed Nizam Bin Abdul Razak;
Mohd Azlan Bin Mohammed
Wasco Coatings Malaysia
Sdn Bhd
Wasco Oilfield Services Sdn
Bhd and its subsidiaries
RM350,052
Interest bearing advances for
purpose of working capital
requirement
Dato’ Mohamed Nizam Bin Abdul Razak is a common Director of Wasco Coatings Malaysia Sdn Bhd, Wasco Oilfield Services
Sdn Bhd, Wasco Corrosion Services Sdn Bhd and Wasco Lindung Sdn Bhd and a Major Shareholder by virtue of him holding
19.81% shares in Wasco Oilfield Services Sdn Bhd, the immediate holding company of Wasco Corrosion Services Sdn Bhd.
Mohd Azlan Bin Mohammed is a common Director of Wasco Oil Technologies Sdn Bhd, Wasco Coatings Malaysia Sdn Bhd,
Wasco Oilfield Services Sdn Bhd, Wasco Corrosion Services Sdn Bhd and Wasco Lindung Sdn Bhd and a Major Shareholder by
virtue of him holding 31.68% shares in Wasco Oilfield Services Sdn Bhd (the immediate holding company of Wasco Corrosion
Services Sdn Bhd) and 22.61% shares in Wasco Lindung Sdn Bhd (the indirect subsidiary of Wasco Oilfield Services Sdn
Bhd), respectively.
NOTE:
The Interested Related Party Relationships are as per Circular to Shareholders on Proposed Renewal of Shareholders’ Mandate for the Existing Recurrent Related Party
Transactions of A Revenue or Trading Nature and Provision of Financial Assistance dated 28 May 2014 which was approved at the Annual General Meeting of Wah Seong
Corporation Berhad on 20 June 2014.
173
Wah Seong Corporation Berhad • Annual Report 2014
