392 KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2025 7. Ordinary Resolution 6 - Re-Appointment of Auditors The AC, at its meeting held on 26 January 2026, had undertaken an annual assessment of the performance and independence of the External Auditors, Ernst & Young PLT in accordance with Section 67(1) of the Financial Services Act 2013 and Section 76(1) of the Islamic Financial Services Act 2013. Based on its assessment, the AC had recommended to the Board for approval, the re-appointment of Ernst & Young PLT as the Company’s External Auditors, given that Ernst & Young PLT had fulfilled all the qualifications set out in Bank Negara Malaysia’s Policy Document on External Auditor in terms of its performance and independence. The assessment conducted had taken into consideration the following factors: a. Level of knowledge, capabilities, experience and quality of previous work; b. Level of engagement with the AC/ Board; c. Ability to provide constructive observations, implications and recommendations in areas which require improvements; d. Appropriateness of audit approach and the effectiveness of audit planning; e. Ability to perform the audit work within the agreed duration given; f. Non-audit services rendered by the External Auditors to KIBB Group did not impede independence; and g. Ability of the External Auditors to demonstrate unbiased stance when interpreting the standards/ policies adopted by the Company. The Board had also noted that the AC when assessing the proposal on Ernst & Young PLT’s re-appointment, had also taken into consideration Ernst & Young PLT’s 2025 Transparency Report, outlining the audit firm’s legal and governance structures, measures to uphold audit quality and manage risks, as well as measurements of audit quality indicators. In terms of its independence, Ernst & Young PLT has confirmed that it is independent of KIBB Group and KIBB in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants and the International Code of Ethics for Professional Accountants (including International Independence Standards). Based on the assessment, the Board had concurred with the AC’s recommendation and concluded that Ernst & Young PLT had fulfilled all the qualification criteria set out in Bank Negara Malaysia’s Policy Document on External Auditor in terms of its performance and independence and further recommended the proposed re-appointment of Ernst & Young PLT as KIBB Group’s External Auditors to the Shareholders for approval at the 52nd AGM, subject to the approval from Bank Negara Malaysia. Subsequent to the above, Bank Negara Malaysia had on 3 March 2026, granted its approval for the re-appointment of Ernst & Young PLT as KIBB’s External Auditors, the appointment of Mr. Chan Hooi Lam as the Engagement Partner and the appointment of Dato’ Abdul Rauf Rashid as the Concurring Partner for the Financial Year Ending 31 December 2026. NOTICE OF ANNUAL GENERAL MEETING
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