KENANGA ANNUAL REPORT 2018

NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 292 KENANGA INVESTMENT BANK BERHAD 53. PRIOR YEAR RECLASSIFICATION In previous years, the interest income earned from the MTN issuers have been recorded as gross income and the portion paid to investors has been recorded as interest expense in the statements of profit or loss and other comprehensive income. Interest income earned in the financial year ended 31 December 2017 has been restated to reflect the net interest income earned to be consistent with financial year ended 31 December 2018 and these results in reduction of interest income and interest expense by RM49.39 million respectively. The reclassification is to better reflect the substance of the underlying transactions. 54. DIRECTORS OF SUBSIDIARIES OF THE GROUP The following is the list of Directors who served on the Boards of the subsidiaries of the Group since the beginning of the financial year to the date of the Directors’ report: No Name of subsidiary Name of Directors 1 Kenanga Futures Sdn Bhd Luigi Fortunato Ghirardello Izlan Bin Izhab Emmanuel, Dominique, Martial, Georges, Faure Sree Kumar A/L C K Nayar Lum Chee Wah Azila Binti Abdul Aziz 2 Kenanga Nominees (Asing) Sdn Bhd Lee Kok Khee Lum Chee Wah Ng Yoke Mun Nuryasmin Lee Binti Abdullah Tan Tong Nam (resigned on 2 January 2018) Chan Tuck Kiong (resigned on 2 January 2018) Cheong Boon Kak (appointed on 2 January 2018) Wong Mee Hong (appointed on 2 January 2018) Ruslan Bin Md Nor (appointed on 2 January 2018) 3 Kenanga Nominees (Tempatan) Sdn Bhd Lee Kok Khee Lum Chee Wah Ng Yoke Mun Nuryasmin Lee Binti Abdullah Tan Tong Nam (resigned on 2 January 2018) Chan Tuck Kiong (resigned on 2 January 2018) Cheong Boon Kak (appointed on 2 January 2018) Wong Mee Hong (appointed on 2 January 2018) Ruslan Bin Md Nor (appointed on 2 January 2018)