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Minutes Meeting

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CSP HOLDING BHD
9426-T

MINUTES OF BOARD OF DIRECTORS’ MEETING

Minutes of the CSP Holding Bhd meeting held at Bilik Seminar Bunga Raya, Level 10, Office Tower, No.3,Jalan Nagasari (Off Jalan Raja Chulan), 50200 Kuala Lumpur on Monday, 5th May 2014 at 9.00 a.m.

Present : Y. Bhg. Tan Sri Wahid Jalil (Chairman) Y. Bhg. Dato’ Zahir Ahmad (Managing Director) Mr. Yeoh Wai Siaw (Non-independent Executive Director) Y. Bhg. Tan Sri Dato’ William Lim (Independent Non-Executive Director) Y. Bhg. Dato’ Hardi Yusof (Independent Non-Executive Director)
Mr Heah Sieu Low (Independent Non-Executive Director) Dato Aisyah Syed (General Manager of CSP Fasteners’) Mr Azim Rahmat (General Manager of Maya CSP Sdn Bhd) Wong Kar Chun (Auditor) Ms Loh Ai Lin (Secretary)

Apologies : Mr George Siong Chee Sook (Independent Non-Executive Director)

CHAIRMAN FOR THE MEETING
Tan Sri Wahid Jalil took his place and declares the meeting duly convened once the requisite quorum was present.

DIRECTORS REPORT, AUDIT REPORT AND CONSIDERATION OF ANNUAL REPORT
That the Audited report of the Company for the year ended 31 December 2013 together with the Reports of the Directors and Auditors thereon be hereby received and noted.

DECLERATION OF DIVIDEND
That there is no final dividend for year 2013 as recommended by the director is hereby approved.

ELECTION OF DIRECTORS IN PLACE OF THOSE RETIRING
It was resolved that Tan Sri Dato William Lim will be retire and the position will be replaced by Dato’ Che Abdul Malik. Mr George Siong Chee Sook and Dato’ Hardi Yusof choose to voluntary to retire for year 2013.
APPOINTMENT OF AND THE FIXING OF THE REMUNERATION OF AUDITORS
After some discussion, it was resolved that the remuneration of auditors will be RM27, 000. The audit remuneration includes the service tax as applicable and also the reimbursement of actual out of pocket expenses. Ernst & Young will be resigning and Deloitte is appointing as the new auditors for CSP Holding Bhd.

FINANCING MAYA CSP’S OPERATION
It was resolve that Maya CSP accepts the advice from the board and apply loan using revolving credit for finance their biometric project.

FINANCIAL DIFFICULTIES FACED BY CSP FASTENER SDN BHD
After some discussion, it was resolved that CSP Holding Bhd gives loan to CSP Fastener to solve the financial difficulties problem.

CLOSE OF MEETING
The Chairperson thanked all members for attending the meeting and the meeting closed at 11.00 am.

Chairman’s signature Secretary’s signature, WahidJalil Loh Ai Lin (Tan Sri Wahid Jalil) (Loh Ai Lin) 7 May 2013 8 May 2014

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