AUDIT, GOVERNANCE AND RISK COMMITTEE REPORT THE AUDIT, GOVERNANCE AND RISK COMMITTEE (AGRC OR COMMITTEE) WAS established BY THE BOARD OF DIRECTORS OF MSM MALAYSIA HOLDINGS BERHAD IN LINE WITH THE MAIN MARKET LISTING REQUIREMENTS (LISTING REQUIREMENTS) OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) WITH THE PRINCIPAL ROLE TO ASSIST THE BOARD IN CARRYING OUT ITS OVERSIGHT RESPONSIBILITIES IN RELATION TO FINANCIAL REPORTING, EXTERNAL AUDIT AND INTERNAL AUDIT PROCESSES, CONFLICT OF INTEREST AND RELATED PARTY TRANSACTIONS. THE AGRC ALSO PLAYS A CRUCIAL ROLE IN ENSURING APPROPRIATE CHALLENGE AND GOVERNANCE IN MATTERS RELATING TO INTERNAL CONTROL, FINANCIAL REPORTING AS WELL AS GOVERNANCE, RISK MANAGEMENT AND ETHICS PROGRAMMES OFTHE GROUP. THE BOARD IS PLEASED TO PRESENT THE AGRC REPORT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021. Composition of AGRC The current AGRC comprises of four members, all of whom are Independent Non-Executive Directors. The composition of the AGRC complies with the Listing Requirements of Bursa Securities and the principles and practices set out in the Malaysian Code on Corporate Governance 2021 (MCCG 2021) that Audit Committee should comprise solely of Independent Directors. None of the AGRC members is a former key audit partner of the Group. The Committee is chaired by Choy Khai Choon, an Independent Director who is not the Chairman of the Board, thus satisfying the requirement of separation of power between the Chairman of the Board and the Chairman of AGRC as prescribed by the MCCG 2021. He is a member of the Malaysian Institute of Accountants (MIA) and also an Honorary Fellow of CPA Australia. The Chairman of the Committee meets the requisite qualifications as stipulated in paragraph 15.09(1)(c)(i) of the Listing Requirements. The membership and meeting attendance of AGRC members for 2021 are as follows: Members Type of membership No. of meetings attended during 2021 Held Attended Choy Khai Choon Chairman/Independent Non-Executive Director 13 13 Dato’ Rosini Abd Samad Member/Independent Non-Executive Director 13 13 Dato’ Muthanna Abdullah Member/Independent Non-Executive Director 13 13 Datuk LimThean Shiang Member/Independent Non-Executive Director 13 13 SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 229
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