KENANGA ANNUAL REPORT 2019

108 DIRECTORS’ INTERESTS According to the register of Director’s shareholdings, the interests of Directors in office at the end of the financial year in shares in the Bank, are as follows: The Bank Number of ordinary shares At 1.1.2019 Addition Disposal At 31.12.2019 Direct interest: Luigi Fortunato Ghirardello 631,700 - - 631,700 Dato’ Richard Alexander John Curtis 1,100,000 - - 1,100,000 Norazian Binti Ahmad Tajuddin - 10,000 - 10,000 Kanagaraj Lorenz - 42,000 - 42,000 Other than as disclosed above, none of the other Directors in office at the end of the financial year had any interest in shares in the Bank or its related corporations during the financial year. OTHER STATUTORY INFORMATION (a) Before the financial statements of the Group and of the Bank were made out, the Directors took reasonable steps: (i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate allowance had been made for doubtful debts; and (ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had been written down to an amount which they might be expected so to realise. (b) At the date of this report, the Directors are not aware of any circumstances which would render: (i) the amount written off for bad debts or the amount of the allowance for doubtful debts in the financial statements of the Group and of the Bank inadequate to any substantial extent; and (ii) the values attributed to current assets in the financial statements of the Group and of the Bank misleading. (c) At the date of this report, the Directors are not aware of any circumstances which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Bank misleading or inappropriate. (d) At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or financial statements of the Group and of the Bank which would render any amount stated in the financial statements misleading. DIRECTORS’ REPORT