MSM Malaysia Holdings Berhad Annual Report 2020

INVESTMENT AND TENDER COMMITTEE REPORT On 10 June 2020, the Board approved the establishment of Investment and Tender Committee (“ITC” or “the Committee”) to undertake the responsibilities, amongst others, to review the business plans progress and performance of MSM’s existing and new significant investments as well as to assist the Board in fulfilling the Board’s statutory and fiduciary responsibilities in relation to the review of significant procurements in accordance with the limits set out in MSM Group’s Limits of Authority. COMPOSITION Members* Type of membership No. of meetings attended Datuk Dr Abd Hapiz Abdullah (appointed as Chairman and Member with effect from 10 June 2020) Chairman/Independent Non-Executive Director 3/3 Choy Khai Choon (appointed as Member with effect from 10 June 2020) Member/Independent Non-Executive Director 3/3 Datuk LimThean Shiang (appointed as Member with effect from 10 June 2020) Member/Independent Non-Executive Director 3/3 Dato’ Haris Fadzilah Hassan (appointed as Member with effect from 10 June 2020) Member/Non-Independent Non-Executive Director 3/3 Notes: * For Members’ profiles see pages 68 to 71 The ITC comprises exclusively of Non-Executive Directors and majority are Independent Directors. The ITC Chairman is an Independent Non-Executive Director. The Board believes that the current ITC’s composition provides the appropriate balance in terms of skills, knowledge and experience to promote the interests of all shareholders and to meet the needs of the Group. ROLES OFTHE COMMITTEE The main responsibilities of the Committee are: • To ensure that MSM has in place optimum frameworks, mechanisms, policies and procedures for effective investment and procurement undertakings and activities • To review proposals related to new investments, divestments and procurements of the Group in line with MSM’s prevailing related policies and procedures The full details of the Committee’s Term of Reference is published in the Company’s corporate website at http://www.msmsugar . com/our-company/corporate-governance. The Board is pleased to present the report on Investment and Tender Committee for the financial year ended 31 December 2020 (FYE 2020). MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 107 SUSTAINABILITY REPORT EFFECTIVE LEADERSHIP CORPORATE GOVERNANCE FINANCIAL STATEMENTS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING