Wah Seong Corporation Berhad Annual Report 2020

61 ANNUAL REPORT 2020 Besides, the FIC also deliberates on the implication of the global economic sentiment and outlook on the Group’s various business divisions and with this hindsight, actively reviews the overall business activities, capital expenditure requirements, financing requirements and forex strategies. Both the Risk Management Committee and the FIC have the responsibility of assessing and reviewing all Investment Related Proposals. Normally, the Risk Management Committee will perform the necessary risk assessment on the Investment Related Proposals and thereafter recommend the same to the FIC for their review. The FIC will then consider and evaluate the feasibility of the Investment Related Proposals by taking into account the comprehensive feasibility study, due diligence reports, valuation reports and/or other relevant reports in accordance with the standard operating procedures. A threshold limit of the value of the Investment Related Proposals is established to determine the relevant approvals required. The value of the Investment Related Proposals of up to RM5.0 million will be approved by the FIC and the Board of the investing company and thereafter to be endorsed by the Board of WSC. For value of the Investment Related Proposals of above RM5.0 million, the approval must be sought from the Board of WSC upon recommendation by the FIC. 1.13 Directors’ Training All members of the Board have attended the Mandatory Accreditation Programme as required under the MMLR. The Directors do and will undergo such similar or continuing training and education programmes from time to time to equip and keep themselves abreast of the latest developments in order to discharge their duties and responsibilities more effectively. During the financial year under review, the Directors had participated in various programmes, courses and forums which they have individually or collectively considered as relevant and useful in contributing to the effective discharge of their duties as Directors. The lists of trainings/courses attended by the respective Directors are tabled to the Board at the respective Board meetings held every quarter for the Board’s notation. Based on the results of the annual assessment of the individual Directors and the Board’s effectiveness as a whole conducted by the Nomination Committee, the Board was satisfied with the trainings/courses attended by the respective Directors and that they are well equipped and updated on the industry knowledge and developments in enhancing their skills and in discharging their duties and responsibilities effectively. A brief description of the type of trainings/courses attended by the Directors for the financial year under review is as set out below. Directors Date of Course/Name of Organiser Title of Trainings/Courses Attended Dato’ Seri Robert Tan Chung Meng 22 July 2020 KPMG Integrated Reporting Awareness Training Professor Tan Sri Lin See Yan 20 February 2020 Leadership Institute of Sarawak State Civil Service, Sarawak Speaker on “Trying Troubled Times Amid Trauma & Tumult” 5 March 2020 Entrepreneurs’ Organization (“EO”) Speaker on “Surviving Turbulent Times in the face of Turbulence, How Can CEOs Deliver Profit Growth and Ensure Strong Economic Returns?” 8 August 2020 Association of Malaysian Economics Undergraduates (“AMEU”) Economic Summit Closing Keynote Speaker at a virtual event “Economics After Tomorrow” Chan Cheu Leong 16 January 2020 Malayan Banking Berhad Maybank Private Market Outlook 1H2020 “Navigating Challenging Currents” CORPORATE GOVERNANCE OVERVIEW STATEMENT