Recurrent related party transaction of a revenue or trading nature and necessary for its day to day operations ("RRPT")
10.49
A Bhd's AGM for its financial year ended 31 December 2008 was held on 8 May 2009 ("2009 AGM"), while the AGM for its financial year ending 31 December 2009 falls on 20 May 2010 ("2010 AGM"). During its 2009 AGM, A Bhd obtained its shareholder mandate for some RRPTs. A Bhd intends to obtain its shareholder approval to renew the RRPTs at the 2010 AGM. Pursuant to paragraph 14 of Annexure PN12-A, in its circular to renew the RRPTs, A Bhd must disclose the actual value transacted of each RRPT from the date on which the mandate was obtained (8 May 2009) up to the latest practicable date before the printing of the circular (assuming it falls on 15 April 2010) ("Actual Value"). Must this Actual Value be audited?
No, the Actual Value need not be audited. A Bhd may extract the Actual Value from its management accounts.