statement on risk management and internal control • Whistleblowing Policy The Group has insঞtuted a whistleblowing policy with feedback channels to allow anyone in the Matrix Group to disclose informaঞon pertaining to misconducts or improprieঞes in a safe and secure manner. The confidenঞality of the whistleblower is assured throughout the process. There were no reports received during the FY2025. MONITORING AND REVIEW OF THE ADEQUACY AND INTEGRITY OF THE SYSTEM OF INTERNAL CONTROL The Board considered the risk management and internal control process in the Group during the financial year to be adequate and effecঞve. A review on the adequacy and effecঞveness of the risk management and internal control system has been undertaken based on informaঞon from: a) Management within the organisaঞon responsible for the development and maintenance of the risk management and internal control framework; b) Assessments of major business units and funcঞonal controls by respecঞve management to complement the above input in providing a holisঞc view on the effecঞveness of the Group’s RMIC framework; and c) The work by the Internal Audit Funcঞon in accordance with the Internal Audit Plan document highlighঞng the key processes, which have been defined based on the Risk Profiles of the Group as well as Internal Audit reports to the Audit Commiee and Risk Management Commiee together with recommendaঞons for improvement. The Audit Commiee and Risk Management Commiee will address and monitor the implementaঞon of key acঞon plans and any internal control weakness and ensure conঞnuous process improvement. During the financial year under review, a number of improvements to internal controls were idenঞfied and addressed. There have been no significant weaknesses noted which have resulted in any material losses. The Board has been assured by the Group Execuঞve Director and the Execuঞve Director cum Chief Financial Officer that the Group’s risk management and the internal control system are operaঞng adequately and effecঞvely, in all material aspects, based on the risk management and internal control system of the Group. The Board considers the system of RMIC as described in this statement to be saঞsfactory and the risks to be at an acceptable level within the context of the Group’s business environment. As the development of an efficient system of internal controls is an ongoing process, the Board and Management maintain an ongoing commitment to conঞnue taking appropriate measures to strengthen the risk management and internal control environment of the Group. RISKS REVIEW FOR THE FINANCIAL YEAR A half-yearly review on the adequacy and effecঞveness of the risk management and internal control system have been undertaken for the financial year under review. During the financial year under review, each business unit via its respecঞve working groups, comprising personnel at all levels carried out the following areas of work for periodic review:- • Conducted reviews and updates of risk profiles of principal risks and emerging risks which will potenঞally derail the achievement of business objecঞves and goals. • Evaluated the adequacy of key processes, systems, and internal controls in relaঞon to the rated principal risks, and established strategic responses, acঞonable programmes and tasks to manage the aforemenঞoned and/or eliminate performance gaps. • Ensured internal audit programmes covered idenঞfied principal risks. Audit findings throughout the financial period served as key feedback to validate effecঞveness of risk management acঞviঞes and embedded internal controls. • Reviewed implementaঞon progress of acঞonable programmes and evaluated post-implementaঞon effecঞveness. • Reviewed the adequacy of all business resumpঞon and conঞngency plans, and their readiness for rapid deployment. The review includes the following:- • Regular internal audit reports which are tabled quarterly to the Board and the Risk Management Commiee. • Bi-annual risk reviews compiled by the respecঞve units’ risk owners and presentaঞon to and discussion with the Risk Management Commiee, the Board, and Internal Auditors. • Operaঞng unit’s response to the risk analysis conducted on areas of weakness. The findings arising from the above reviews have been reported to Management for their response and subsequently for Audit Commiee’s deliberaঞon. 137 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 06 OUR GOVERNANCE
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