Wah Seong Corporation Berhad Annual Report 2019

50 WAH SEONG CORPORATION BERHAD NOMINATION COMMITTEE The NC and the Board taking cognisance of Practice 4.2 of the MCCG 2017 will continue to source for suitably qualified, credible and caliber candidates to assume the positions of the existing Independent Non-Executive Directors whom have exceeded the tenure of twelve (12) years. In the event that the NC and the Board failed to identify suitable candidates to assume the Independent Non-Executive Directorships, the Board will explain the departure from Practice 4.2 of the MCCG 2017 in the Corporate Governance Report which is required to be submitted to Bursa Malaysia Securities Berhad together with the Company’s Annual Report. 7. REVIEW OF THE AUDIT COMMITTEE Pursuant to Paragraph 15.20 of Chapter 15 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the NC had conducted a review of the terms of office and performance of the Audit Committee and each of the members annually and was of the opinion that the Audit Committee and each of the members have carried out their duties in accordance with their Terms of Reference. 8. FINANCIAL LITERACY OF AUDIT COMMITTEE MEMBERS Pursuant to Practice 8.5 of the MCCG 2017, the NC had conducted the financial literacy assessment for each of the Audit Committee members based on a set of questionnaires to be completed in respect of the financial year ended 31 December 2019 and the NC was pleased with the outcome of the assessment. 9. APPOINTMENT OF NEW PRINCIPAL OFFICER During the financial year under review the new Head Group Internal Audit of the Company, Mr Sivaramayah A/L Sivalingam who has access to price-sensitive information in the course of his work was nominated for appointment as a Principal Officer of the Company, pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad at the NC Meeting held on 19 November 2019 and was duly approved by the Board. At the NC Meeting held on 18 February 2020, the new Head of Finance, Industrial Services Division of the Company, Mr Billy Ooi Giap Hwa who has access to price-sensitive information in the course of his work was nominated for appointment as a Principal Officer of the Company, pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and was duly approved by the Board. 10. REDESIGNATION OF THE EXISTING HEAD OF FINANCE, INDUSTRIAL SERVICES DIVISION At the NC Meeting held on 18 February 2020, Mr Bernard Yeap Chew Soon, the existing Head of Finance, Industrial Services Division was redesignated as Senior Director, Industrial Services Division of the Company and was duly approved by the Board.