121 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD BOARD ACTIVITIES DURING THE YEAR The activities of the Board are organised to endorse, supervise and support executive management in implementing the Group’s strategy within its governance framework. The principal matters deliberated by the Board in the financial year ended 31 December 2023 include: • Approved the Company’s listing application to Bursa Malaysia in relation to its initial public offering and proposed admission to the official list of Bursa Malaysia. • Approved the registration of the Company’s prospectus with the Securities Commission and lodgement of the prospectus with Registrar of Companies. • Approved the underwriting agreement with RHB Investment Bank Berhad for the implementation of the Company’s initial public offering. • Reviewed Management’s proposals on business expansion to Indonesia, which includes the proposal to form the joint venture with PT Sinar Eka Selaras TBK, Indonesia. • Reviewed and approved the Group’s risk planning and risk assessment reports. • Reviewed the Group’s sustainability framework, including stakeholder engagement, materiality assessment and sustainability reporting. • Reviewed and approved the appointment of the Group’s internal auditors and their proposed audit plan. • Reviewed and approved the appointment of the Group’s external auditors and their proposed audit plan. Strategy, Risk and Sustainability • Reviewed and approved the Board Effectiveness Assessment framework. • Reviewed and approved the Group’s remuneration framework. Succession Planning, Appointments, Remuneration and Others • Approved the formation and memberships of the Board Committees. • Reviewed and approved the Board Charter and terms of reference of the Board Committees. • Reviewed and approved the Group’s corporate governance and sustainability policies. • Reviewed and approved the amended Board Charter, Board Committees’ terms of reference and corporate governance policies in relation to recent amendments to the MMLR of Bursa Malaysia on conflict of interest. • Reviewed the conflict-of-interest situation of the Group. Governance • Reviewed and approved the Group’s financial statement for the financial year ended 31 December 2022. • Reviewed and approved quarterly financial performance of the Group. • Reviewed and approved the Group’s budget for the financial year ended 31 December 2024. • Reviewed and approved the related party transactions entered into by the Company. • Reviewed the substantial shareholdings in the Company. • Reviewed and approved the declaration of dividend. Financial
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