151 ANNUAL REPORT 2025 MST GOLF GROUP BERHAD The Head of Risk and Control has also presented to the GRSC and the Board reports of external risk factors locally, regionally as well as globally that may impact the Group’s business and operations. Implementation of the risk control activities determined during the risk management workshops is on-going and its progress and effectiveness are being monitored and documented in the Group’s risk register. Board Assurance In accordance with the Bursa Malaysia’s Corporate Governance Guidelines, the Management is responsible to the Board for: (a) Identifying and evaluating risks relevant to the achievement of the Group’s strategic objectives; (b) Implementing and maintaining an effective risk management and internal control; and (c) Monitoring and reporting to the Board of risk exposure, control deficiencies, and changes in the Group’s risk profile that may materially impact the achievement of its objective and performance. In producing this Statement, the Board has received assurance from the Company’s Executive Directors (which include the Group’s CEO) and CFO that, to the best of their knowledge and belief, the Group’s risk management and internal control systems have operated adequately and effectively, in all material aspects throughout the financial year under review. The Board confirms that in FY2025: (a) The process of identifying, evaluating and managing significant risks were in place and functioning on an ongoing basis. (b) No material losses were incurred as a result of significant internal control weaknesses. (c) The Board is satisfied that the Group’s risk management and internal control systems were adequate and effective in supporting the achievement of the Group’s business objectives; and (d) The risk management framework and internal control systems will continue to be reviewed and enhanced to ensure their ongoing relevance and effectiveness in light of evolving business and operating environment. This Statement was issued in accordance with a resolution of the Board, approved on 15 April 2026. Review of the Statement by the External Auditors The Company’s external auditors have reviewed this Statement in accordance with Paragraph 15.23 of the MMLR. Their review has been conducted in accordance with the scope as set out in the Audit and Assurance Practice Guide 3 - Guidance for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control included in the Annual Report, issued by the Malaysian Institute of Accountants to assess whether this Statement is both supported by the documentation prepared by or for the Directors and appropriately reflects the process which the Directors have adopted in reviewing the adequacy and integrity of the system of internal control for the Group. Based on their review, the Company’s external auditors have reported to the Board that nothing has come to their attention which causes them to be of the opinion that this Statement is inconsistent with their understanding of the reviewing process adopted by the Board for the adequacy and integrity of internal control of the Group.
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