ANNUAL REPORT 2015 |
67
STATEMENT ON CORPORATE GOVERNANCE
Shareholder Communications
General Meeting is a crucial mechanism in shareholder communications and remains the principal forum for dialogue with
shareholders of the Company. At the general meeting, the shareholders have direct access to the Board and are given the
opportunity to discuss about the resolutions being proposed or about the Group’s businesses and operations in general.
Shareholders are reminded of their right to demand for poll at general meetings and they may request for detailed results showing
the number of votes cast for and against such resolutions being tabled thereat.
ACCOUNTABILITY AND AUDIT
Financial Reporting
The Board aims to present a balanced and meaningful assessment of performance and prospects of the Group in all of its financial
reports. The unaudited and audited financial statements of the Group which are drawn up in compliance with the provisions of
the Companies Act, 1965 and the applicable Financial Reporting Standards in Malaysia, and are released to the public within the
stipulated time frame, reinforce the Board’s commitment to ensure the accuracy, completeness and timely dissemination thereof
for greater accountability and transparency.
The Directors’ Responsibility Statement made pursuant to Paragraph 15.26(a) of the Main Market Listing Requirements of Bursa
Malaysia Securities Berhad in relation to the Financial Statements is presented in the appropriate section of this Annual Report.
Risk Management and Internal Control
The Board acknowledges their responsibilities for the Group’s risk management and system of internal controls covering not only
financial controls but also operational and compliance controls. The Board takes necessary steps to identify, assess andmonitor key
business risks, and constantly review and enhance its internal control system to manage such risks with objective to safeguard the
shareholders’ investments and the Group’s assets.
The Statement on Risk Management & Internal Control in this Annual Report provides an overview on the state of risk management
and internal controls within the Group.
Relationship with the External Auditors
The Board, via the ARC, has established a transparent and appropriate relationship with the Group’s External Auditors. In the course
of audit of the Group’s operations, the External Auditors highlighted to the ARC and the Board, matters that require their attention.
The ARC also conducts annual assessment on the suitability and independence of the External Auditors guided by a standard set of
policies and procedures. Recommendation for appointment or re-appointment of the External Auditors (as the case may be), will
be made to the Board, and subsequently to the shareholders of the Company for their consideration at AGM.
CONCLUSION
The Board is satisfied that the Company has substantially complied with the Principles and Recommendations set out in the MCCG
throughout the FY2015.
