MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 118 CORPORATE GOVERNANCE STATEMENT (CONT’D) A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. Board Responsibilities (cont’d) 6. Board Committees (cont’d) RMC (cont’d) During the FY2021, the RMC held four (4) meetings and all members registered full attendance. Below is a summary of the key activities undertaken by the RMC in the discharge of its duties:- (a) Reviewed quarterly risk assessment reports with the head of departments; and (b) Reviewed internal audit report on the operation and business processes with in-house internal auditors. Further information can be found in the Risk Management and Internal Control Statement on page 136 to page 138 of this Annual Report. A copy of the RMC’s Terms of Reference can be found on the Group’s website at https://www.myeg.com.my/investor-relations/governance. AC The AC assists in providing oversight on the Group’s financial reporting, disclosure, regulatory compliance and monitoring of internal control processes within the Group. Besides that, the AC reviews the quarterly financial results, unaudited and audited financial statements, internal and external audit reports as well as related party transactions. The description of the activities carried out by the AC during the year is set out in the AC Report on page 134 to 135 of this Annual Report. A copy of the AC’s Terms of Reference can be found on the Group’s websi te at https://www.myeg.com.my/investor-relations/governance. 7. Board Charter The Group has established a Board Charter to promote high standards of corporate governance which is designed to provide guidance and clarity to Directors and the Management with regard to the role of the Board and its Committees. The Board Charter clearly sets out the key values and principles of the Group and further sets out the duties and responsibilities of the Board, the Chairman of the Board, the Group Managing Director, the Independent Director and the Board Committees. The Board Charter also provides structure guidance and ethical standards for the Board in discharging their duties towards the Group as well as its operating practices. The Board has a formal schedule of matters reserved for the deliberation as set out below, to ensure good governance is in place for the Group:- z Conflict of interest issues relating to a substantial shareholder or a Director including approving related party transactions z Material acquisitions and disposal of assets not in the ordinary course of business including significant capital expenditures z Strategic investments, mergers and acquisitions and corporate exercises z Limits of authority z Treasury policies z Risk management policies z Key human resource issues z Business plans The Board Charter is reviewed annually by the Board to keep abreast with the new changes in legislations and best practices, and remains effective and relevant to the Board’s objectives. A copy of the Board Char ter can be found on the Group’s webs i te at https://www.myeg.com.my/investor-relations/governance.
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