The Company wishes to announce that the following RRPTs that were approved by the shareholders of the Company at the Company’s Forty-Fifth Annual General Meeting held on 4 June 2021 have exceeded the estimated value for the RRPTs as disclosed in the Circular to Shareholders dated 28 April 2021 (“Circular”) by more than 10%.
Details are as follows:
Nature of Transactions
|
Transacting Parties
|
Class of Related Party
|
Estimated value of RRPTs disclosed in the Circular
(“mandate value”)
(RM’000)
|
Actual value of the RRPTs transacted from 05 June 2021 to 30 April 2022
(“actual value”)
(RM’000)
|
Variation between actual value and mandate value (%)
|
Manulife Centre of Excellence (“COE”) – Operations and Information Technology (“IT”) Support Services
|
Manulife Investment Management (M) Berhad
|
Manulife Financial Corporation and its subsidiaries
|
2,800
|
3,223
|
15%
|
Reason:
The RRPTs have exceeded the Mandate Value due to the hiring of new COE-IT resources (two (2) new full-time employees) at the start of the second half of year 2021 to support regional demand.
|
This announcement is dated 24 May 2022.