increase in director remuneration - red flag, page-56

Handy Andy, sorry to be wasting your time but since your reading my posts I have to say I find your attitude naive to say the least.

"I would most certaimly voted for an increase in funds if there was an another board member elected to the Board."

Resolution:

"The proposed increase in the maximum aggregate remuneration payable to the directors provides scope to:
1. appoint an additional non-executive director to enhance the breadth of skills, and the diversity of membership, of the Board; and
2. prepare for transition to the appointment of a Non Executive Chairman of the Board.
The Company believes that it is important that its Board reflects a diverse range of opinions, backgrounds and
experiences. The proposed new limit on aggregate remuneration for non-executive directors of $1,250,000 per
annum is consistent with the limits of other comparable ASX listed companies, and in particular ASX listed companies with a Non Executive Chairman."

Now I may be wrong the way that reads to me they are lifting the TOTAL payable to NON EXECUTIVE DIRECTORS in order to appoint an additional NON EXECUTIVE DIRECTOR and prepare for a NON EXECUTIVE CHAIRMAN. That preparation would include more NON EXECUTIVE DIRECTORS on, and probably chairing, the various Committees replacing current EXECUTIVE DIRECTORS, i.e. NC. In addition the rise in total NON EXECUTIVE DIRECTOR fees is sufficient to pay a NON EXECUTIVE CHAIRMAN without further recourse to SH's.

To me it reads like your getting everything you've been banging on about and, like I and a number of others have been saying, it's coming as a natural progression in the business development.

The thing I like about it is that implies some confidence that the Board believes things will progress favourably in Malaysia. I would hardly think they'd put up such a proposal if all was about to collapse around them.

Sincerely hope I'm right about that.