Dagang NeXchange Berhad Annual Report 2019

CORPORATE GOVERNANCE OVERVIEWSTATEMENT DAGANG NeXCHANGE BERHAD 68 2. INTERNAL AUDIT FUNCTION The Board recognises the importance of risk management and is committed in maintaining a sound system of risk management and internal control in its business operations. The internal audit function has been outsourced to Baker Tilly Monteiro Heng Governance Sdn. Bhd. (“Baker Tilly”) since March 2014. Baker Tilly reports directly to the Audit Committee and assists the Audit Committee in discharging its duties and responsibilities. Further details of the activities of the internal audit function are set out on page 76 of this Annual Report. PRINCIPLE C: INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIPWITH STAKEHOLDERS 1. CONDUCT OF GENERAL MEETINGS The AGM is the principal platform of communication with shareholders of the Company. The Annual Report together with the Notice of AGM is sent to registered shareholders within the prescribed period as allowed under the Company’s Constitution and the MMLR of Bursa Securities as the case may be. At the AGM, the Chairman briefed members, corporate representatives and proxies who were present of their right to speak and vote on the resolutions set out in the notice of AGM. In accordance with the MMLR of Bursa Securities, resolutions set out in the notice of AGM or in any notice of general meeting are voted by poll. The Board encourages shareholders’ participation during question and answer sessions at the AGM and provides sufficient opportunity for shareholders to communicate their concerns. The external auditors are invited to the meeting to provide their professional and independent view to shareholders, if required. While members of the media are not invited into the AGM meeting hall, a media conference is usually held immediately after the AGM where the Chairman, Executive Deputy Chairman and Executive Directors update media representatives on the resolutions passed and answer questions on matters related to the Group. This approach provides the Company with a more efficient way to address both the shareholders and the media. 2. COMMUNICATIONWITH STAKEHOLDERS The Board acknowledges the need for the Company’s shareholders and investors to be informed of all material business and corporate developments concerning the Group in a timely manner. In accordance with the Group’s Media and Investor Relations Policy, the Company publishes all material information as required by the regulators via the Bursa LINK as well as other publications such as the Annual Report, quarterly financial reports and media releases. The Company’s Investor Relations is discussed in a dedicated segment of this Annual Report on page 77. ENSURE TIMELY AND HIGH QUALITY DISCLOSURE The Board is committed to use its best endeavour to provide accurate and complete information on a timely and even basis to enable shareholders to make informed investment decision. The Company’s website is regularly updated and provides relevant information on the Company’s announcements, business, corporate, financial information and annual reports which is accessible to the public. COMPLIANCE STATEMENT The Board is committed to achieving a high standard of Corporate Governance throughout the organisation and would endeavour to apply the recommendations of the MCCG 2017. This Corporate Governance Overview Statement has been approved by the Board of DNeX on 25 February 2020.