MKH Annual Report 2017

PRINCIPLE 6: RECOGNISE AND MANAGE RISKS (continued) Risk Management Committee (continued) During the financial year under review, the in-house internal audit team continued to follow-up on those significant or potential risks identified during their course of auditing and the management action plans to mitigate such risks. The key activities carried up by in-house internal audit team are as follows: (a) conduct audit fieldworks at the business units (i.e. Property Development and Construction division, Plantation division, Trading division) to determine the key risks and stage of implementation by the respective business unit; (b) prepare internal audit reports for every audit assignment on the internal control issues together with audit recommendations; (c) perform process improvement audits namely reviewing the Group’s Standard Operating Procedures of all business units; and (d) maintain and improve internal audit methodologies and procedures following the comments made by Audit Committee and Risk Management Committee (where applicable). The in-house internal audit team will report directly on all the audit findings and the stages of implementation by the respective business unit to the Audit Committee to further strengthen risk management and internal controls. PRINCIPLE 7: ENSURE TIMELY AND HIGH QUALITY DISCLOSURE Companies should establish corporate disclosure policies and procedures to ensure comprehensive, accurate and timely disclosure. The Board recognises the need for stockholders and the wider investment community to ensure that they are kept informed of all material business matters affecting the Group. This is done through timely dissemination of information on the Group’s performance and major developments which are communicated via the following channels: (a) the Annual Report and relevant circulars despatched to shareholders and published in the Company’s website and Bursa Malaysia; (b) the convening of AGM and/or Extraordinary General Meeting; (c) the release of various disclosures and announcements including quarterly financial announcements; and (d) press releases and analysts briefings. The Company leverages on the use of information technology by maintaining a corporate website at http://www.mkhberhad.com for effective dissemination of information which shareholders or other stakeholders can easily access to the latest corporate information of the Group. All information released to Bursa Malaysia is posted on the Investor Relations section of the website at http://mkh.irplc.com . PRINCIPLE 8: STRENGTHEN RELATIONSHIP BETWEEN COMPANY AND SHAREHOLDERS The Board should facilitate the exercise of ownership rights by shareholders. The Group’s investor relationship is helmed by the Managing Director, Chief Financial Officer, Property Director and Deputy Property Director, who attends to various investors namely funds managers and investment analysts, while the Corporate Communications Department will communicate with members of the media. 59 MKH Berhad • Annual Report 2017 Statement on Corporate Governance