Integrated Annual Report 2024 SECTION 4 • EFFECTIVE STEWARDSHIP THROUGH GOOD GOVERNANCE 77 AUDIT COMMITTEE REPORT The primary function of the Audit Committee is to assist the Board in fulfilling its fiduciary duties as well as providing oversight on the integrity of the Group’s financial reporting and its audit processes. The Board of the Company is pleased to present the AC Report which illustrates the insights as to the manner in which the AC has discharged their duties and responsibilities during the FYE2024. This report is prepared in compliance with Paragraph 15.15 of MMLR of Bursa Securities. COMPOSITION The AC comprises four (4) members, all of whom are Independent Non-Executive Directors. This meets the requirements of Paragraph 15.09(1)(a) and (b) of the MMLR of Bursa Securities. The current composition of the AC is as follows: Name Membership Designation Date of appointment Lim Hun Soon @ David Lim Chairman Independent Non-Executive Director 18 August 2020 Noor Alina Binti Mohamad Faiz Member Independent Non-Executive Director 18 October 2016 Susan Yuen Su Min Member Independent Non-Executive Director 16 July 2021 Chong Kin Leong Member Independent Non-Executive Director 1 October 2021 The AC is chaired by Mr. Lim Hun Soon @ David Lim who is a member of the MIA and the MICPA. He is also a member of the Chartered Institute of Taxation, United Kingdom and a member of ICAEW. Mr. Chong Kin Leong, a member of the AC, is also a member of the MIA and MICPA. The AC meets the requirements of Paragraph 15.09(1)(c)(i) of the MMLR of Bursa Securities and the Step-Up Practice 9.4 of the MCCG 2021 by being comprising only independent directors. MEETINGS The AC conducted five (5) meetings during the FYE2024. Details of attendance of the AC members at the AC meetings during the FYE2024 are as follows: Name of AC Members No. of AC Meetings Attended Percentage of Attendance Lim Hun Soon @ David Lim (Chairman) 5/5 100% Noor Alina Binti Mohamad Faiz 5/5 100% Susan Yuen Su Min 5/5 100% Chong Kin Leong 5/5 100% The Company has complied with the following requirements and best practices in FYE2024: Requirements/ Best Practices Practices of the Company MMLR of Bursa Securities Paragraph 15.09 Not less than three (3) members All AC members are Independent Non-Executive Directors All AC members are financially literate No Alternate Director appointed as AC Member MCCG 2021 Practice 9.1 Mr Lim Hun Soon @ David Lim is not the Chairman of the Board Practice 9.2 The Company has a policy that requires a former partner of the external audit firm of the listed company to observe a cooling-off period of at least three (3) years before being appointed as a member of the AC Practice 9.4 (Step-Up) The AC comprises solely Independent Directors Practice 9.5 All members are financially literate, competent and are able to understand matters under the purview of the AC including the financial reporting process
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