AUDIT AND RISK MANAGEMENT COMMITTEE REPORT AUDIT AND RISK MANAGEMENT COMMITTEE COMPOSITION AND MEETINGS The members of the Audit and Risk Management Committee (“ARMC”) comprise of:- 1. Anita Chew Cheng Im Chairperson / Independent Non-Executive Director 2. Datuk Woon See Chin Member / Independent Non-Executive Director 3. Dato’ Ir. Fong Tian Yong Member / Independent Non-Executive Director 4. Bhupendar Singh A/L Sewa Singh Member / Independent Non-Executive Director The ARMC, which consists solely of Independent Non-Executive Directors, comprise qualified individuals with the required skills and expertise to discharge the committee’s functions and duties. All members of the ARMC, including the Chairperson, will hold office only so long as they serve as Directors of the Company. The members of the ARMC are financially literate and have contributed to meaningful discussions in overseeing the integrity of the financial reporting processes and financial statements. Further, the members have experience/sufficient understanding that is relevant to the businesses and the industries the Group operates in. Two of the ARMC members, Ms. Anita Chew Cheng Im and Mr. Bhupendar Singh A/L Sewa Singh, fulfilled the accounting qualification and experience criteria specified under paragraph 15.09(1)(c) of Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”). Accordingly, the Company complies with paragraph 15.09 of MMLR of Bursa Securities. Annually, the term of office, independence and performance of the ARMC and each of its members are assessed by the Nomination Committee (“NC”). Based on the said assessment, the ARMC and its members are found to have effectively discharged its duties in accordance with its terms of reference. The Board and the NC were of the view that the ARMC has provided valuable recommendations to assist the Board in making informed decisions. The Board is kept informed of the ARMC’s deliberations through its minutes and report, which is a standing agenda item in the scheduled meetings of the Board. During the financial year ended 31 December 2022 (“FY2022”), the ARMC met five (5) times. The ARMC meetings were appropriately structured through the use of agendas, which were distributed to members prior to the meeting. The meeting attendance of the ARMC members is as follows:- Name of Directors Number of Meetings Held During Director’s Tenure in Office Attendance Percentage of Attendance Anita Chew Cheng Im 5 5 100% Datuk Woon See Chin 5 5 100% Dato’ Ir. Fong Tian Yong 5 5 100% Bhupendar Singh A/L Sewa Singh 5 5 100% TERMS OF REFERENCE OF THE AUDIT AND RISK MANAGEMENT COMMITTEE The information on the terms of reference of the ARMC is available on the Company’s website at https://www.kimlun.com. Annual Report 2022 54
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