WASCO BERHAD 130 AUDIT COMMITTEE The summary of the COI situations reviewed by the AC pursuant to paragraph 15.12(1)(h) of Bursa Malaysia’s MMLR during the period under review and the measures taken to resolve, eliminate, or mitigate such conflicts are as detailed below:- Name Position in Wasco Berhad Group Type of COI Situation Measure in place Datin Wan Daneena Liza Binti Wan Abdul Rahman Independent NonExecutive Director of Wasco Berhad Actual Datin Wan Daneena’s husband is currently the President and Group Chief Executive Officer of Affin Bank Berhad, a financial institution that Wasco Pipe Sabah Sdn. Bhd., a subsidiary of WB has borrowings with. Datin Wan Daneena shall recuse herself from any Board or Board Committee deliberations relating to Affin Bank Berhad. Lily Rozita Binti Mohamad Khairi Independent NonExecutive Director of Wasco Berhad Potential Ms Lily is currently sitting on the Board of other companies as an Independent Non-Executive Director. In case of any future dealings between WB Group and other companies where Ms Lily holds directorship on, Ms Lily will inform WB and recuse herself from such deliberations or decision making. Ooi Giap Hwa, Billy Head of Finance, Bioenergy Services Actual Mr Billy Ooi is an indirect shareholder of Wasco Thermal Sdn. Bhd. by virtue of his 9.74% shareholding in Tema Energy Ventures Sdn. Bhd., a 40% shareholder in Wasco Thermal Sdn. Bhd. Mr Billy Ooi will report/ raise any transaction potentially triggering COI that come to his knowledge to his superior and abstain himself from the decision making. Saved as disclosed above, none of the other Directors and Key Senior Management members have any COI as declared in the COI forms. The Directors and Key Senior Management would inform the Company immediately should their circumstances change in any way that affects their earlier COI declaration. The COI Policy is reviewed and updated from time to time to ensure that it is relevant and in line with the requirements of all relevant acts, rules and guidelines currently in force. The COI Policy is available on the Company’s website at www.wascoenergy.com.
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