DESTINI Annual Report 2020

The Directors are responsible for ensuring that proper accounting and other records which are closed with reasonable accuracy at any time the financial position of the Group and ensuring that the financial statements comply with the Listing Requirements, the provisions of the Companies Act, 2016 and applicable Approved Accounting Standards in Malaysia. The Directors are also responsible for taking such reasonable steps to safeguard the assets of the Group and to minimise fraud and other irregularities. The Directors are satisfied that in preparing the financial statements of the Group for the financial year ended 31 December 2020, the Group has used the appropriate accounting policies and applied them consistently and supported by reasonable and prudent judgments and estimates. The Directors also consider that all applicable approved accounting standards have been complied with and further confirm that the financial statements have been prepared on a going concern basis. COMPLIANCE STATEMENT Saved as disclosed above, the Board is of all the view that the Group has complied with and shall remain committed to attaining the highest possible standard through the continuous adoption of the principles and best practices set out in MCCG and all other applicable laws, where applicable and appropriate. INVESTOR RELATIONS Destini remains fully committed to disseminate complete, transparent and timely information to the market on its business operations, financial condition, strategies and prospects to existing and potential shareholders and stakeholders. The Group has the objective to convey a fair and accurate representation of Destini to ensure that shareholders and stakeholders can formulate a balanced understanding on Destini’s outlook. During the year in review, two-way communication between Destini and the investment community were done through meetings and conference calls that were mainly done virtually as physical distancingwas practiced. Various efforts have been made by the Senior Management to continuously engage the investment community. Creating shareholder value In February 2018, Destini adopted a dividend policy to pay 30% to 40% of its full year profits of a calendar year. This is to ensure shareholders of the Group’s commitment in enhancing long-term shareholders value and consistent cash returns through the declaration of dividends. It should be noted that although Destini has committed to a dividend policy, this only describes the Group’s intention and should not be constituted as a legally binding statement in respect of future dividends which are subject to the discretion of the Board. It is also worth noting that Destini is a holding company and its income and ability to pay dividends is dependent upon income and dividends received from its subsidiaries. Communicating with shareholders Destini engages with its shareholders through dialogues and planned investor relation programmes which includes roadshows, meetings with institutional investors and regular analyst briefings. Destini is tracked by the investment community and as atMay 2021, 3 financial institutions provided coverage on the Group. Research reports written by analysts are compiled regularly and feedback are summarised to provide a comprehensive view of the Group from the investment community. Aside from engaging with analysts and fund managers as a medium between Destini and public investors, the Group also takes on the initiative to engage with its shareholders during its Annual General Meeting (“AGM”). However in 2021, Destini’s AGM was held virtually in accordance to guidelines by the Securities Commission Malaysia. The virtual AGM was led by Destini’s Chairman Tan Sri Dato’ Sri Rodzali Bin Daud and President & Group CEO Dato’ Rozabil Bin Abdul Rahman, who are accompanied by Destini’s Board of Directors. During the virtual AGM, shareholders are briefed on the market outlook, business and financial highlights, project progress and strategic initiatives going forward. Shareholders were also able to raise questions to the Board through the online platform used. Aside from that, Destini supplements shareholder engagement with a dedicated investor relations page on its corporate website, https://www.destinigroup.com/investor- relations/. Our investor relations page provides corporate information, financial data, share price information and corporate announcements that are also listed on Bursa Malaysia Securities Berhad’s company announcements. The webpage was developed to provide timely disclosure of information on quarterly results, corporate developments and all material announcements, as required under Listing Requirements. Corporate Governance Overview Statement 69 ANNUAL REPORT 2020 DESTINI BERHAD