In forming the opinion on the above, the AGRC has considered, amongst others, the terms and conditions of the Proposed Disposal, rationale, financial effects as well as the evaluation of the Independent Adviser. • On 17 February 2021, the AGRC reviewed the Proposed Disposal. • On 29 March 2021, the AGRC sought the preliminary view from the Independent Adviser on Proposed Disposal. • On 26 April 2021, the AGRC reviewed the update of Proposed Disposal by Management. • On 7 July 2021, the AGRC reviewed the Proposed Circular to Shareholders for the Disposal of Equity in MSM Perlis Sdn Bhd to FGV Integrated Farming Holdings Sdn Bhd and recommended to the Board for approval. b. Reviewed and analysed the quarterly report on Recurrent Related Party Transactions for monitoring of the transactions against the shareholders’ mandate from the 10th Annual General Meeting held on 17 June 2021. c. Reviewed the Circular to the shareholders for the purpose of seeking mandate for renewal and new Recurrent Related Party Transactions of the Group at the Annual General Meeting 2021. d. Reviewed the revision to Related Party Transactions and Recurrent Related Party Transactions Procedures. e. Reviewed the Group Internal Audit report on review of the Recurrent Related Party Transactions Procedures. Governance and Integrity a. Reviewed the quarterly Progress Report on Corporate Governance Activities of MSM Group. b. Reviewed the latest updates on MCCG 2021 issued by Securities Commission Malaysia and MSM’s gap analysis, which was recommended to the Board for information and direction. c. Reviewed new and the revised Policies & Procedures and Limits of Authority under the Group. d. Reviewed the establishment of Whistleblowing Committee and Whistleblowing System implementation within MSM Group of Companies. Risk Management a. Reviewed the quarterly Progress Report on Group Risk Register Report and Business Continuity Management (BCM) and provided necessary guidance on identification, assessment and mitigation of key business risks and effectiveness of its mitigation. b. Reviewed quarterly progress updates on: • COVID-19 status within the Group • Key emerging risk that would impact the Company’s business and operation. SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 233
RkJQdWJsaXNoZXIy NDgzMzc=