GOVERNANCE CONCLUSION This Statement provides an overview of the Group’s risk management and internal control systems, outlining the structured processes implemented to identify, assess, and mitigate risks. The collaborative roles of the AC and Vaersa serve as a critical defense line in verifying the integrity of these controls. The Board recognises that the Group operates in a dynamic environment, necessitating a flexible and responsive internal control system. While the Board is committed to the continuous enhancement of these systems, it is noted that this framework does not extend to the Group’s associate companies. Nevertheless, the Group’s interests in these entities are safeguarded through Board representation and the periodic review of their management accounts. The Board has received assurance from the Group Managing Director and the Chief Financial Officer that the Group’s risk management and internal control systems are operating adequately and effectively, in all material aspects. Consequently, the Board is of the view that the system of internal control in place for the year under review is sound and sufficient to safeguard stakeholders’ investments and the Group’s assets. REVIEW BY EXTERNAL AUDITORS In compliance with paragraph 15.23 of the MMLR, the External Auditors have conducted a review of this Statement. Their review was performed in accordance with Malaysian Approved Standard on Assurance Engagements, ISAE 3000 (Revised), Assurance Engagement Other than Audits or Reviews of Historical Financial Information and Audit and Assurance Practice Guide 3 (AAPG 3): Guidance for Auditors on Engagements to Report on the Risk Management and Internal Control Statement included in this IAR2025, as issued by the Malaysian Institute of Accountants. Based on their review, the External Auditors has reported that nothing has come to their attention that causes them to believe that this Statement is not prepared, in all material respects, in accordance with the disclosures required by paragraph 41 and 42 of the Risk Management and Internal Control Statement: Guidelines for Directors of Listed Issuers and Practice Note 10.1 and 10.2 of Malaysian Code of Corporate Governance. Furthermore, they did not find any factual inaccuracies in the Statement. RISK MANAGEMENT AND INTERNAL CONTROL STATEMENT (cont’d) 189
RkJQdWJsaXNoZXIy NDgzMzc=