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The particulars in relation to the audit and non-audit fees incurred by the Company and its subsidiaries for the
FYE2019 are as follows:
Audit Fees (RM’000)
Non-Audit Fees (RM’000)
FYE2019
FYE2018
FYE2019
FYE2018
Company
83
73
10
9
Subsidiaries
270
225
209
215
TOTAL
353
298
219
224
Information about the Audit Committee, including its work in FYE2019 are set out in the Audit Committee
Report contained in this Annual Report.
II.
RISK MANAGEMENT AND INTERNAL CONTROL FRAMEWORK
The Company is committed to embedding risk management practices to support the achievement of
business objectives and fulfil corporate governance obligations. The Board is responsible for reviewing and
overseeing the risk management and internal control framework for the Group and for ensuring the Group has
an appropriate risk management and internal control process and procedures. The Audit Committee provides
advice and assistance to the Board in meeting that responsibility and the role of the former in relation thereto
is described in the Statement on Risk Management and Internal Control of this Annual Report.
The Group has an enterprise risk management framework which is designed to provide a sound framework
for managing the material risks of conducting business. The framework sets out the standards and processes
for identifying, monitoring and reporting of risks impacting the success of strategic objectives and operating
plans.
The Board however, recognizes that the enterprise risk management framework must continually evolve to
support the type of business and size of operations of the Group. As such, the Board will, when necessary,
put in place appropriate action plans to further enhance the Group’s risk management and internal control
framework.
Related Party Transactions
An internal compliance framework exists to ensure its obligation under the Bursa Listing Requirements,
including obligation to related party transactions and recurrent related party transactions. The Board, through
its Audit Committee, reviews and monitors all related party transactions and conflicts of interest situation, if
any, on a quarterly basis. A Director who has an interest in a transaction must abstain from deliberating and
voting on the relevant resolutions, in respect of such a transaction at the meeting of the Board and AGM.
Details of the proposed renewal of shareholders’ mandate for recurrent related party transaction is set out in
the Circular/Statement to Shareholders dated 29 July 2019.
corporate
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