AUDIT COMMITTEE REPORT The Board of Directors of Matrix Concepts Holdings Berhad (“Matrix” or “the Company”) is pleased to present the report on the Audit Committee (the “Committee”) of the Board for the financial year ended 31 March 2024. OBJECTIVE The Committee was established in line with the Main Market Listing Requirements (“Listing Requirements”) of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) to act as a Committee of the Board of Directors to fulfill its fiduciary responsibilities in accordance with the Terms of Reference of the Audit Committee of the Company and to assist the Board in reviewing the adequacy and integrity of the Group’s financial administration and reporting as well as internal control. A MEMBERS OF THE AUDIT COMMITTEE The Committee consists of five (5) following members, who each satisfy the “independence” requirements contained in the Listing Requirements of Bursa Malaysia:- • Mazhairul Bin Jamaludin - Chairman Senior Independent Non-Executive Director • Dato’ Hajah Kalsom Binti Khalid - Member Independent Non-Executive Director • Chua See Hua - Member Independent Non-Executive Director • Dato’ Hon Choon Kim - Member Independent Non-Executive Director (Resigned on 18 June 2024) • Loo See Mun - Member Independent Non-Executive Director • Vijayam A/P Nadarajah - Member Independent Non-Executive Director (Appointed on 19 June 2024) B S UMMARY ON KEY SCOPE OF RESPONSIBILITIES The Committee operates under a written Audit Committee’s Terms of Reference containing provisions that address the requirements as imposed by Bursa Malaysia. That Terms of Reference is posted on the Corporate Governance section of the Company’s website at www.mchb.com.my. The Terms of Reference prescribes the Committee’s oversight of financial compliance matters in addition to a number of other responsibilities that the Committee performs. Those key responsibilities include, among others:- • Overseeing the financial reporting process and integrity of the Group’s financial statements; • Evaluating the independence and appraisal of external auditors; • Evaluating the performance and process of the Company’s internal audit function and external auditors; • Overseeing the Group’s system of internal controls and risk management that the management and the Board have established; • Assessing the Company’s practices, processes and effectiveness; • Reviewing conflict of interest situations and related party transactions of the Group; and • Reviewing any significant matters highlighted including financial reporting issues, significant judgment made by management, significant and unusual events or transactions, and how these matters are addressed. C D ESCRIPTION OF DUTIES PERFORMED BY THE COMMITTEE The Committee report provides an overview of the duties that the Committee carried out during the year, including the significant issues considered in relation to the financial statements and how the Committee assessed the effectiveness of the external auditors. The Committee has a responsibility to oversee the Group’s internal control. The Committee continues to monitor and review the effectiveness of the Group’s internal control with the support of Group Internal Audit function. The Committee has an annual work plan, to review standing items that the Committee considers at each meeting, in addition to any matters that arise during the year. OUR GOVERNANCE MATRIX CONCEPTS HOLDINGS BERHAD 120
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