Excel Force MSC Berhad Annual Report 2015

E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 22 PRINCIPLE 7 – ENSURE TIMELY AND HIGH QUALITY DISCLOSURE The Company is aware that the key element of good corporate governance is the effective communication and dissemination of clear, relevant and comprehensive information which is timely and readily accessible by the Company’s stakeholders. EForce recognises the importance of timely dissemination of relevant corporate and other information to its shareholders and investors. Therefore, the Company complies strictly with the disclosure requirements of Bursa Securities for the Main Market and the Malaysian Accounting Standards Board in order to maintain the transparency and accountability to its shareholders. The Board ensures that all the Company’s shareholders are treated equitably and the rights of all investors, including the minority shareholders are protected. Besides, theCompanyacknowledges that all shareholders shouldbepromptly informedof allmajor developments impacting the Group. The Company engages in communication with shareholders through its Investor Relations link on official corporate website. Updates on information about the Company and all announcements made via the Bursa Securities website are also posted on its official website. The Board is committed to provide and present a true and fair view of the Group’s financial position and prospects by ensuring quality financial reporting to its stakeholders, in particular, shareholders, investors and the regulatory authorities. The Board is guided by the principles set out in MMLR. The terms of reference on the financial report are set out in the Statement of Directors’ Responsibilities. In order to maintain proactive communications with shareholders, the Company has provided the Annual Report, quarterly financial results, information on its business, financials and key activities to the public on a timely basis. PRINCIPLE 8 – STRENGTHEN RELATIONSHIP BETWEEN THE COMPANY AND ITS SHAREHOLDERS The Group believes the importance of maintaining transparency and accountability to its shareholders. The AGM remains the principal forum for dialogue with shareholders where they are encouraged to meet the Board to have greater insight into the Groups’ operations. The shareholders can participate and raise questions regarding the business operations and financial performance and position of the Company. The Board, together with the external auditors and the Company Secretary, will provide feedback and responses to the shareholders’ queries. The Company sends out the Notice of the AGM and Annual Report to shareholders at least twenty-one (21) days before the meeting as required under the MMLR in order to facilitate full understanding and evaluation of the issues involved. As for special business items appearing in the Notice of the AGM, a full explanation is provided to the shareholders on the effect of the proposed resolution emanating from the special business item. STATEMENT OF CORPORATE GOVERNANCE (cont’d)