Sasbadi Annual Report 2018

SASBADI HOLDINGS BERHAD (1022660-T) AUDIT COMMITTEE REPORT 50 The Audit Committee has been established to assist the Board of Directors (“the Board”) of Sasbadi Holdings Berhad (“Sasbadi Holdings” or “the Company”) in fulfilling its fiduciary responsibilities relating to corporate accounting, financial reporting practices, system of internal controls, audit process and monitoring of compliance with laws and regulations (Note: Sasbadi Holdings and our subsidiaries are collectively referred to as “the Group” herein) . MEMBERS OF THE AUDIT COMMITTEE The members of the Audit Committee are as follows: Chairman : Lim Hun Soon @ David Lim (Independent Non-Executive Director) Members : Dato’ Salleh Bin Mohd Husein (Independent Non-Executive Chairman) Dato’ Noor Rezan Binti Bapoo Hashim (Senior Independent Non-Executive Director) The composition of the Audit Committee complies with paragraph 15.09 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), as follows: ➣ The Audit Committee comprises three (3) members; ➣ All the members are independent non-executive directors; and ➣ The Chairman, Lim Hun Soon @ David Lim, is a member of the Malaysian Institute of Accountants. TERMS OF REFERENCE The full Terms of Reference setting out the Audit Committee’s composition, meeting proceedings, authority, and functions and duties can be viewed on the Company’s website, www.sasbadiholdings.com . ATTENDANCE OF MEETINGS During the financial year ended (“FYE”) 31 August 2018, the Audit Committee held a total of five (5) meetings. The attendance of the members of the Audit Committee at the meetings is as follows: Member Attendance Lim Hun Soon @ David Lim Dato’ Salleh Bin Mohd Husein Dato’ Noor Rezan Binti Bapoo Hashim 5 out of 5 5 out of 5 4 out of 5 The agendas for the meetings, together with the relevant papers and reports and minutes of the previous meetings, were distributed to the members prior to the meetings. The Company Secretary attended all the meetings held during the financial year under review. In addition, the Group Managing Director and other Executive Directors, the Group Chief Financial Officer, key management personnel, external auditors and outsourced internal auditors also attended the meetings when invited by the Audit Committee to provide and present reports or information during the deliberation of matters pertaining to their respective areas, in the meetings. SUMMARY OF WORK OF THE AUDIT COMMITTEE DURING FYE 31 AUGUST 2018 During FYE 31 August 2018, the Audit Committee had, in discharging its functions and duties, carried out, among others, the following work: