48 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 The Audit and Risk Committee (“ARC”) Report provides insights into the manner in which the Audit and Risk Committee has discharged its function for the Group in the financial year ended 31 December 2021 (“FY2021”) and also a summary of its various activities. FORMATION OF COMMITTEE The Audit Committee was established as a committee of the Board of Directors of GHL Systems Berhad on 11 February 2003. On 8 April 2013, the Board of Directors resolved that the Audit Committee be renamed as the Audit and Risk Committee (“ARC” or the “Committee”). COMMITTEE COMPOSITION The ARC comprises the following four (4) members, all of whom are Non-Executive Directors with the majority being independent. Designation Name Directorship Chairman Dato’ Chan Choy Lin, Carol Independent Non-Executive Member Matteo Stefanel (appointed wef 18 May 2021) Non-Independent Non-Executive Member Datuk Kamaruddin Bin Taib (Resigned wef 25 Nov 2021) Independent Non-Executive Member Tan Lye Sim (appointed wef 25 Nov 2021) Independent Non-Executive Member Kung Lee See (appointed wef 25 Nov 2021) Independent Non-Executive All members of ARC are financially literate, possess wide range of skills and expertise, and have sufficient understanding of the Company’s business and matters under the purview of the ARC, including the financial reporting process. The Chairman of ARC, Dato’ Chan Choy Lin, Carol (“Dato’ Carol”) is a member of the Malaysian Institute of Accountants (“MIA”). The current ARC composition complies with Paragraphs 15.09 and 15.10 of the Main Market Listing Requirements (“MMLR”) of Bursa Securities, which prescribes that the committee must be composed of not fewer than three (3) members, all of whom must be Non-Executive Directors, majority of members being Independent Directors, and one member must be a member of the MIA. ATTENDANCE OF MEETINGS The ARC held five (5) meetings during FY2021. The Company Secretary is responsible for distributing the notice of the meetings to the Committee members prior to each meeting and for recording the proceedings of the meetings thereat. AUDIT AND RISK COMMITTEE REPORT
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