THE BOARD AUDIT AND RISK COMMITTEE REPORT The Board Audit and Risk Committee (“BARC”) plays a major role in corporate governance regarding the organisation’s direction, control, and accountability. The BARC is set up with the primary objective to assist the Board of Directors (“Board”) in carrying out its duties and responsibilities in fulfilling its responsibility for oversight with respect to ensuring the integrity of the Company’s financial statements, performance of the Company’s independent auditors and internal audit function, risk management practices and internal control of the company. As a representative of the Board and main part of the corporate governance mechanism, the BARC is involved in both the organisation’s internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. In line with the requirements of Paragraph 15.09(1)(a) and (b) of the Main Market Listing Requirement (“MMLR”), the composition of the BARC is as follows: Members 1. Abdullah bin Abu Samah Chairman/Independent Non-Executive Director 2. Dato’ Sr Akmal bin Ahmad Non-Independent Non-Executive Director 3. Lailatul Azma Binti Abdullah Independent Non-Executive Director (appointed on 5 July 2023) 4. Dato’ Wan Kamaruzaman bin Wan Ahmad Independent Non-Executive Director (resigned on 5 July 2023) Secretaries 1. Nuraliza binti Abd Rahman 2. Rohaya binti Jaafar On 5 July 2023, Dato’ Wan Kamaruzaman bin Wan Ahmad resigned from being a members of the BARC. Lailatul Azma binti Abdullah, an independent non-executive Director was appointed as a member of the BARC effective 5 July 2023. The BARC members are appointed by the Board and consist of not less than 3 members, all of whom shall be nonexecutive Directors with a majority of them being independent Directors. The Board elects a chairman who is an independent Director and who is not the chairman of the Board. The composition of the BARC shall fulfil the requirements as prescribed in the Listing Requirement. The Board of Directors, via the Board Nomination and Remuneration Committee (“BNRC”), annually reviews the terms of office and performance of the BARC and its members through an effectiveness evaluation exercise. The BNRC assessed the BARC’s performance for the financial year ended 31 December 2023 and was satisfied that the BARC and its members have discharged their functions, duties, and responsibilities in accordance with the BARC’s Terms of Reference. COMPOSITION 118 CORPORATE GOVERNANCE 1 2 3 5 6 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023
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