Kimlun Corporation Berhad Annual Report 2020

AUDIT COMMITTEE REPORT AUDIT COMMITTEE COMPOSITION AND MEETINGS The members of the Audit Committee (“AC”) comprise of:- 1. Kek Chin Wu - Chairman / Independent Non-Executive Director 2. Dato’ Paduka (Dr.) Ir. Hj. Keizrul Bin Abdullah - Member / Independent Non-Executive Director 3. Chua Kee Yat @ Koo Kee Yat - Member / Independent Non-Executive Director 4. Datuk Woon See Chin - Member / Independent Non-Executive Director (Appointed on 27 November 2020) The AC, which consists solely of Independent Non-Executive Directors, comprise qualified individuals with the required skills and expertise to discharge the committee’s functions and duties. All members of the AC, including the Chairman, will hold office only so long as they serve as Directors of the Company. The members of the AC are financially literate and have contributed to meaningful discussions in overseeing the integrity of the financial reporting processes and financial statements. Further, the members have experience/sufficient understanding that is relevant to the businesses and the industries the Group operates in. The AC Chairman, Mr. Kek Chin Wu, is a fellow member of Association of Chartered Certified Accountants and a member of the Malaysian Institute of Accountants. Accordingly, the company complies with paragraph 15.09(1)(c)(i) of MMLR. None of the AC members are former audit partners who are required to observe a cooling off period of at least two years before being appointed in accordance with the terms of reference of AC. Annually, the term of office, independence and performance of the AC and each of its members are assessed by the Nomination Committee. Based on the said assessment, the AC and its members are found to have effectively discharged its duties in accordance with its terms of reference. The Board and the Nomination Committee were of the view that the AC has provided valuable recommendations to assist the Board in making informed decisions. The Board is kept informed of the AC’s deliberations through its minutes and report, which is a standing agenda item in the scheduled meetings of the Board. During the financial year ended 31 December 2020 (“FY2020”), the AC met five (5) times. The AC meetings were appropriately structured through the use of agendas, which were distributed to members prior to the meeting. The meeting attendance of the AC members is as follows: Name of Directors Number of Meetings Held During Director’s Tenure in Office Attendance Percentage of Attendance Kek Chin Wu 5 5 100% Dato’ Paduka (Dr.) Ir. Hj. Keizrul Bin Abdullah 5 5 100% Chua Kee Yat @ Koo Kee Yat 5 5 100% Datuk Woon See Chin (Appointed on 27 November 2020) 1 1 100% TERMS OF REFERENCE OF THE AUDIT COMMITTEE The information on the terms of reference of the AC is available on the Company’s website at http://www.kimlun.com . Kimlun Corporation Berhad Registration No. 200901023978 (867077-X) 049