Minutes of Meeting of Directors

The Minutes of Meeting of Directors is the Board Resolution for approving a loan from a Director to the Company pursuant to the articles of association of the company.

It describes who was present at the meeting, that the directors declared their interests and agreed to lend the stated amount to the Company to fund its working capital and will be repayable on the stated repayment date. A specific currency regarding the amount shall also be provided in the Minutes for clear reference.

Additionally, not only has the loan been approved but any director has the authority to sign any relevant documents, to affix the seal of the Company to any documents related to the loan and that any action taken by any Director prior to these resolutions which falls within the conferred authority is ratified and confirmed.

It shall be noted that the loan is for the long-term commercial benefit, best interest and for the purpose of its business. This is to ensure that no Director is contemplating to, knowingly, use the Company as a disguise and approved the loan for his or her own personal use or interest.

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