EXCEL FORCE MSC BERHAD 31 PRINCIPLE A - BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) Ill Remuneration (Cont’d) 8.0 Stakeholders are able to assess whether the remuneration of directors and senior management commensurate with their individual performance, taking into consideration the Company’s performance. (Cont’d) 8.2 Directors' remuneration are categorised by name and by range, detail as below:- No. Name Directorate Company and Group Range of Remuneration (RM) 100,000 and below 100,001 to 150,000 150,001 to 500,000 Above 500,000 1. Datuk Wira Farhash Wafa Salvador Executive Chairman ✓ 2. Wong Kok Chau Executive Director ✓ 3. Eng Shao Hon Executive Director ✓ 4. Datuk Mat Noor bin Nawi Independent NonExecutive Director ✓ 5. Dato’ Sri Ismail bin Ahmad Independent NonExecutive Director ✓ 6. Elisa Tan Mun-E Independent NonExecutive Director ✓ PRINCIPLE B - EFFECTIVE AUDIT AND RISK MANAGEMENT I Audit Committee 9.0 There is an effective and independent audit committee. The Board is able to objectively review the audit committee's findings and recommendations. The Company's and the Group’s financial statements is a reliable source of information. 9.1 The Audit Committee's ("AC") principal duties include the supervision of the truthfulness and reliability of the Company's financial statements, the effectiveness and adequacy of the Company's internal control as well as risk management system. The AC comprises exclusively Independent Non-Executive Directors and to ensure the Board is able to review the AC's finding and recommendation independently, the chairman of AC is not the chairman of the Board. The appointment of the auditors is subject to approval at the general meeting. In making its recommendations to the shareholders on the appointment and re-appointment of auditors, the Board relies on the review and recommendation of the AC. The Board has established a formal and transparent arrangement with its external auditors to meet their professional requirements. The AC meets with the external auditors to review the rationale of significant judgement, accounting principles and the operating effectiveness of internal controls and business risk management. The auditors have continued to highlight to the AC and the Board matters that require the Board's attention. 9.2 The Board is responsible to prepare financial statements which reflect a true and fair view of the financial position of the Company and of the Group and the financial results of the Company and of the Group for each financial year. The financial statements are prepared in accordance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia. Corporate Governance Overview Statement (Cont’d)
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