Datasonic Group Berhad 76 Statement on Risk Management and Internal Control The terms of references of all the Board Committees are published on the Company’s website at www.datasonic. com.my. 2. Regular Board and Board Committee Meetings Regular Board and Board Committee meetings were conducted to provide effective and sound governance practices. Decisions of the Board are only made after the required information is made available and deliberated upon by the respective Board Committees and recommended accordingly to the Board. The Board reviewed and approved the quarterly and full year financial results announced to Bursa Malaysia and shareholders, as applicable, based on the recommendations made by the AC. Additionally, the Board also approved and implemented the Group policies based on the recommendations made by the Board Committees to continuously improve on the effectiveness and efficiency of risk management and internal control system. The minutes of the Board Committee meetings that recorded pertinent deliberations and decisions were subsequently presented to the Board for approval. 3. Management Committees i. Group Management Committee, led by the EXCO The Group Management Committee (“GMC”) comprises the Managing Director as the Chairman, Deputy Managing Director and Executive Director including senior individuals within the Group having administrative or managerial authorities, or have the ability to facilitate or the power to implement plans, actions, rules and procedures or otherwise direct various personnel within the Group to achieve the overall objectives. The GMC meeting is conducted on a monthly basis or as and when considered necessary by the Chairman, in line with its Terms of Reference. The GMC meeting provides a forum for the Management to discuss on key management concerns and matters encompassing strategic, operational and financial planning; and to deliberate on key operational progress, risks, issues and challenges encountered in the undertaking of significant projects as well as status of key resolutions decided upon by the Group. Appropriate action plans to resolve the issues or manage the risks are formulated and continuous updates were obtained in subsequent meetings from the respective parties assigned until satisfactory resolution of the action plans. Subsequently, key operational activities and statistics, financial performance and key risks that affect the operational activities were reported by the Managing Director at the Board meetings, as applicable. ii. Group Tender and Procurement Committee The Group Tender and Procurement Committee (“GTPC”) consists of the Managing Director as the Chairman, Deputy Managing Director, Executive Director and selected senior individuals within the Group and are responsible to review, recommend and approve critical decisions involving significant tender exercises and capital expenditure transactions of the Group. The deliberations and reviews performed include evaluating risks associated with the proposed transactions and the reasonableness of the associated mitigating factors prior to approval. iii. Corporate Disclosure Committee The Corporate Disclosure Committee (“CDC”) comprises the Managing Director, Deputy Managing Director, Chief Corporate Officer, Chief Financial Officer and Head of Company Secretary, is responsible for ensuring appropriate and timely corporate disclosures to shareholders, stakeholders and investors in accordance with the MMLR of Bursa Malaysia and applicable laws of Malaysia. iv. Integrity and Governance Committee In August 2021, the Integrity and Governance Committee (“IGC”) has been formally set up in the Group as another sub-committee to complement the GMC. The IGC comprises the Managing Director as the Chairman, Deputy Managing Director, Executive Director and selected personnel from various disciplines within the Group, is tasked to spearhead the Anti-Bribery Management System (“ABMS”) and Guidelines on Adequate Procedures (“GAP”) related programmes. 4. Organisational Structures The Group has an organisational structure that defines accountabilities and responsibilities, and lines of reporting for each division and department established within the Group. The organisational structure provides the basic framework to help the Group’s operations to proceed smoothly and functionally, and to ensure proper supervision, coordination and a sense of accountabilities among the employees.
RkJQdWJsaXNoZXIy NDgzMzc=