Being satisfied with the external auditors, Crowe Malaysia PLT’s (“Crowe”) technical competency and audit independence, the AC recommended the appointment of Crowe as external auditors for FY2021. The Board at its meeting held on 30 March 2022 approved the AC’s recommendation for the shareholders’ approval to be sought at the Thirteenth AGM on the appointment of Crowe as external auditors of the Company for FY2022. C. APPROACH TO SUSTAINABILITY The Board is responsible for the governance of sustainability in the Group including setting the Group’s sustainability strategies, priorities and targets. The Board also ensures the adequacy of the Group’s framework for risk management and internal controls which are crucial to the Group’s sustainability. The Group’s sustainability framework is disclosed in page 27 of the Annual Report 2021. The Board takes into account sustainability considerations when exercising its duties including among others the development and implementation of company strategies, business plans, major plans of action and risk management. Assessing the issues that are most material to us and our stakeholders in the environmental, social and governance contexts will enable us to continue to operate effectively and sustainably. The Group’s sustainability measures, framework for risk management, material sustainability matters (“MSM”), and controls measures are disclosed in pages 29 to 31 of the Annual Report 2021. The Group is committed to being accountable and responsive to the expectations and interests of its stakeholders. The Group identified the key stakeholder groups, the corresponding sustainability focus areas and the mode of engagement with such stakeholders as disclosed in page 28 of the Annual Report 2021. The Group ensures that its communication with the internal and external stakeholders are transparent and timely. The Group stay abreast with and understand the sustainability issues by way of regular engagement with the various stakeholders to gain insight as to their concern, attending seminar/training, engagement of consultant to advise the Group on environmental matters in the Group’s conduct of business, participation in Request of Information exercise of large project to gain early insight as to the likely expectation of the project owner as to the technical, financial resources and other aspects in relation to the project, and the trend of future demand. The performance evaluations of the Board and senior management does not include a formal review of their performance in addressing the company’s material sustainability risks and opportunities. D. INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS DISCLOSURE POLICY, INVESTOR RELATIONS AND SHAREHOLDER COMMUNICATION The Board shall place great importance in ensuring the high standards of transparency and accountability in its communication to shareholders, analysts and the public. The shareholders shall be informed of all material matters affecting the Company and Group. The channels of communication, amongst others, are as follows:- (a) timely announcements made to Bursa Securities, which includes quarterly financial results, material contracts awarded, changes in the composition of the Group and any other material information that may affect investors’ decision making; (b) conducts dialogues with financial analysts from time to time as a means of effective communication that enables the Board and Management to convey information relating to the Company’s performance, corporate strategy and other matters affecting shareholders’ interests; and (c) the Company’s website which provides easy access to corporate information pertaining to the Company and its activities and is continuously updated. All announcements made to Bursa Securities are updated on the Company’s website as soon as practical. The AGM is the principal forum for dialogue with shareholders. At each AGM, a presentation is given by the Company to explain the Group’s strategy, performance and major developments to shareholders. The Board also encourages shareholders to participate in the question and answer session at the AGM. The responses to these questions have been provided during the AGM to enable all meeting participants to stay informed. Any unresolved questions and comments by shareholders during the AGM is compiled and answered post-AGM. CORPORATE GOVERNANCE OVERVIEW STATEMENT Annual Repor t 2021 46
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