AL-SALAM REIT ANNUAL REPORT 2018

AL-SALĀM REIT ANNUAL REPORT 2018 85 • Investor Relations Developing and maintaining investor relations including information coordination and distribution as well as customer service to investors. • Compliance Management Supervise all regulatory ilings on behalf of Al-Salām REIT, and ensure that Al-Salām REITis in compliance with the applicable provisions of the Securities Commission Act, SC REIT Guidelines, Bursa Securities Listing Requirements, Trust Deed and all relevant contracts. • Internal Audit The Internal Audit function is outsourced and undertaken by Crowe Horwath Governance Sdn Bhd efective from 12 January 2017. The primary obligation, accountability and responsibility with regards to the scope of internal audit services shall remain with the Board and the Manager at all times. Principles Of The Corporate Governance Code 1. BOARD LEADERSHIP AND EFFECTIVENESS 1.1 Board Responsibilities In discharging their duties and responsibilities, the Board ensures that all decisions made are in the best interests of the Fund and stakeholders. As prescribed by the MCCG 2017, the Board assumes, inter alia, the following responsibilities: • Reviewing and adopting a strategic plan for the Fund The strategic and business plan for the period 2019 – 2023 was tabled, discussed and approved by the Board at its meeting on 30 November 2018. Additionally, on an ongoing basis as need arises, the Board will assess whether strategic consideration being proposed at Board meetings during the year are in line with the objectives and broad outline of the adopted strategic plans. The Board will ensure that the strategic plan supports long-term value creation and includes strategies on economic, environmental and social considerations underpinning sustainability. • Overseeing the conduct and overall management of the Manager and the business of Al-Salām REIT The Board is responsible to oversee, supervise and review the Fund’s annual budget, operational and inancial performance on a periodic basis against the budget. At Board meetings, all operational matters will be discussed and appropriate consultation will be sought if necessary. Where and when available, the performance of the Fund will be benchmarked and compared against the performance of its competitors. • Identifying principal risks and ensuring the implementation of appropriate internal controls and mitigation measures The Board will set the risk appetite within which the Board expects the Manager to operate and ensure there in an appropriate risk management framework to identify, analyse, evaluate, manage and monitor signiicant inancial and non-inancial risks. The Risk Management Report will be tabled on a quarterly basis in the Board meeting to review the Fund’s risks. • Succession planning The Board will deliberate on the latest plans and actions taken in respect of the succession planning to ensure that all candidates appointed to the Board and senior management positions are of suicient calibre. • Efective communication with stakeholders The Board will ensure that there is an effective communication with stakeholders. The Manager has introduced many activities with regards to engagement and communication with investors to ensure that they are well informed about the Fund affairs and developments. Details of investor relations activities are disclosed on page 46 of this Annual Report. • Reviewing the adequacy and the integrity of themanagement information and internal controls systemof the Fund The Board’s function as regard to fulilling these responsibilities efectively are supported and reinforced through the various Committees established at both the Board and Manager’s level. The active functioning of these Committees