Statement On Risk Management and Internal Control THE MALAYSIAN CODE ON CORPORATE GOVERNANCE 2021 (THE CODE) SET OUT THE PRINCIPLES AND PRACTICES FOR THE BOARD OF A COMPANY LISTED ON THE BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) TO ESTABLISH A SOUND RISK MANAGEMENT FRAMEWORK AND INTERNAL CONTROLS SYSTEM TO SAFEGUARD SHAREHOLDERS’ INVESTMENTS AND THE GROUP’S ASSETS. THE BOARD IS COMMITTED TO ESTABLISH A SOUND FRAMEWORK TO MANAGE RISKS AND IS PLEASED TO PROVIDE THE FOLLOWING STATEMENT IN ACCORDANCE WITH PARAGRAPH 15.26(B) OF BURSA SECURITIES’ MAIN MARKET LISTING REQUIREMENTS AND GUIDED BY THE “STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL: GUIDELINES FOR DIRECTORS OF LISTED ISSUERS”. Board’s Responsibilities The Board acknowledges its responsibilities for establishing a sound risk management framework and internal control system to manage risks in accordance with Principle B of the Code to safeguard the interest of shareholders, customers, employees and the Group’s assets. The Board’s responsibilities include: (a) determine the Group’s level of risk tolerance and actively identify, assess and monitor key business risks to safeguard shareholders’ investments and the Group’s assets; (b) committed to articulating, implementing and reviewing the Group’s internal controls system for risk management; and (c) p eriodic review and/or conduct of the effectiveness and adequacy of the internal controls procedures and processes to ensure that the system is viable and robust. MKH BERHAD ANNUAL REPORT 2024 Laying The Foundation of Excellence Where People Matter Guided by Leadership, Inspired by People Delivering Value That Matters to People PG. 142
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