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BONIA ANNUAL REPORT 2013
INTRODUCTION
The Board of Directors of
Bonia
Corporation Berhad is
pleased to present its Statement on Risk Management &
Internal Control for the financial year ended 30 June 2013,
which has been prepared pursuant to Paragraph 15.26(b) of
the Main Market Listing Requirements of Bursa Malaysia
Securities Berhad and as guided by the Statement on Risk
Management & Internal Control: Guidelines for Directors of
Listed Issuers.
This statement outlines the nature and state of risk
management and internal controls of the Group (comprising
the Company and its subsidiaries) during the financial year.
The associated companies of the Group have not been dealt
with as part of the Group for the purposes of applying these
guidelines.
BOARD RESPONSIBILITIES
AND ASSURANCE
The Board of Directors acknowledges its overall
responsibility for maintaining a sound system of risk
management and internal control for the Group for
identifying, evaluating and managing signi cant risks that
may affect the Group’s businesses, and for reviewing its
adequacy and integrity to safeguard the shareholders’
investment and the Group’s assets.
In view of the limitations that are inherent in any systems of
risk management and internal control, the Group’s system
of risk management and internal control is designed to
manage rather than eliminate the risk of failure to achieve
business objectives and can only provide reasonable and
not absolute assurance against material misstatement or
loss.
The Board is assisted by Management in embedding risk
management and control framework in all aspects of the
Group’s activities, implementing the board-approved
policies and procedures on risk appetite and tolerance,
designing and operating effective internal control system
to manage and control these risks, and evaluating and
monitoring the efficiency and effectiveness of the risk
management and control activities to ensure that they
provide reasonable assurance that the risks are managed
within tolerable ranges.
For the nancial year under review, the Board has received
assurance from its Group Chief Executive Officer and Group
Finance Director where, to the best of their knowledge, the
Group’s risk management and internal control systems are
operating adequately and effectively in all material aspects,
The Board of Directors of
Bonia
Corporation Berhad
is pleased to present
its Statement on Risk
Management & Internal
Control for the financial
year ended 30 June 2013