My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 112 TERMS OF REFERENCE The Terms of Reference of the AC were as follows: 1. Objectives The AC was established by the Board of the Company with the objective of assisting the Board in meeting its SFTQPOTJCJMJUJFT JO UIF GPMMPXJOH BSFBT r *O DPNQMZJOH XJUI TQFDJàFE BDDPVOUJOH TUBOEBSET BOE SFRVJSFE EJTDMPTVSF BT BENJOJTUFSFE CZ #VSTB Securities, relevant accounting standards bodies, and any other laws and regulations as amended from UJNF UP UJNF r *O QSFTFOUJOH B CBMBODFE BOE VOEFSTUBOEBCMF BTTFTTNFOU PG UIF $PNQBOZ T QPTJUJPO BOE QSPTQFDUT BOE r *O FTUBCMJTIJOH B GPSNBM BOE USBOTQBSFOU BSSBOHFNFOU GPS NBJOUBJOJOH BO BQQSPQSJBUF SFMBUJPOTIJQ XJUI UIF Company’s external and internal auditors. 2. Composition The AC shall be appointed from amongst the Board and shall comprise no fewer than three (3) members, a NBKPSJUZ PG XIPN TIBMM CF *OEFQFOEFOU %JSFDUPST BOE BMM TIBMM CF /PO &YFDVUJWF %JSFDUPST BU MFBTU POF member must be a member of the Malaysian Institute of Accountants or possess such other qualifications and/or FYQFSJFODF BT BQQSPWFE CZ UIF #VSTB 4FDVSJUJFT " GPSNFS LFZ BVEJU QBSUOFS JT SFRVJSFE UP PCTFSWF B DPPMJOH PGG period of at least two (2) years. No alternate director shall be appointed as a member of the AC. Membership of the AC shall be disclosed in the annual report of the Company. In the event of any vacancy with the result that the number of members (including Chairman) is reduced to below three (3), the Board shall upon the recommendation of the NC to fill the vacancy within two (2) months but in any case not later than three (3) months. Therefore, a member of the AC who wishes to retire or resign should provide sufficient written notice to the Company so that a replacement may be appointed before he/she leaves. The Board must via the NC review the terms of office and performance of AC members annually to determine whether the AC members have carried out their duties in accordance with its terms of reference. 3. Chairman of the AC The Chairman of the AC, who shall be elected by the AC, shall be an Independent Director and is not the Chairman of the Board. In the event of the Chairman’s absence, the meeting shall be chaired by another Independent Director. 4. Secretary The secretary of the Company or his/her representative shall act as the secretary of the AC (“ Secretary ”). The Secretary, in conjunction with the Chairman, shall draw up an agenda, which shall be circulated together with the relevant support papers, at least one (1) week prior to each meeting to the members of the AC. The Secretary shall also be responsible for keeping the minutes of meetings of the AC and circulating them to the AC members. The AC members may inspect the minutes of the AC at the Registered Office or such other place may be determined by the AC. 5. Quorum and Meeting Procedures 5IF "$ TIBMM NFFU BU MFBTU GPVS UJNFT JO FBDI àOBODJBM ZFBS 5IF RVPSVN GPS B NFFUJOH TIBMM CF UXP members, provided that the majority members present at the meeting shall be independent. The AC may call for a meeting as and when required with reasonable notice as the AC members deem fit. The AC members may participate in a meeting by means of conference telephone, conference videophone or any similar or other communications equipment by means of which all persons participating in the meeting can hear each other. Such participation in a meeting shall constitute presence in person at such meeting. AUDIT COMMITTEE REPORT (CONT’D)