Chairman • Datuk Dr Abd Hapiz Abdullah Member • Choy Khai Choon • Datuk LimThean Shiang • Azman Ahmad (appointed as ITC member on 18 October 2021) • Ensuring that MSM has in place optimum frameworks, mechanisms, policies and procedures for effective investment and procurement undertakings and activities • Review proposals related to new investments, divestments and procurements of the Group in line with MSM’s prevailing related policies and procedures • Review the Investment and Tender Committee Report for inclusion in the Annual Report The Group’s Investment and Divestment Matters • Review and recommend to the Board, the specific initiatives, projects and potential investments and divestments to achieve the approved Group Strategic Plan • Review the Group’s investment portfolio and assess the performance of the Group’s investments in the context of business and operational performance as well as changing market environment • Review emerging risk and opportunities, market outlook (i.e. market study and market analysis), economic indicators, currency market, industry/regulatory developments as well as key business developments, which may affect the investment portfolio, the Group’s investment strategy and the Group’s financial health The Group’s Procurement Matters • Review the Group Procurement Policies & Procedure, including its framework • Review the efficiency and effectiveness of the Group’s centralised procurement initiatives • Review and recommend and/or approve tender awards and any variation order for the awarded contracts • Review status reports on procurement transactional efficiency and effectiveness, including amongst others, completion and delivery, spending against budget annually Investment andTender Committee (ITC) Responsibilities & Duties Details of the ITC Report is set out on pages 245 to 246 of this Annual Integrated Report The details of the responsibilities and duties of ITC are disclosed in the TOR of ITC which is made available on the Company’s corporate website at http://www.msmsugar. com/our-company/corporate-governance SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 215
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