of internal control, the Board is aware that such system cannot totally eliminate risks and thus, can never be an absolute assurance against the Group’s failure to achieve its objectives. The Board has established an in-house internal audit function and the Head of Internal Audit reports directly to the Audit Committee. The Group’s Statement on Risk Management and Internal Control for FY2023 is set out on page 161 to 165 in this Annual Report. PRINCIPLE C: INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS Communications with Shareholders and Relationship with Investors The Group recognises and practices transparency and accountability to its shareholders and investors. As such, the Group ensures timely dissemination of information through appropriate channels of communication to the shareholders and investors to ensure that they are properly informed of major developments of the Group. Such information is communicated to them through the annual reports, press releases and the various disclosures and announcements made to Bursa Securities from time to time, including the quarterly and annual results. These information and documents are accessible on Bursa Securities’ website at https://www.bursamalaysia.com or the Company’s website at https://www.tropicanacorp.com.my/bursaannouncements. The Company attends to the requests of analysts and fund managers for briefings from time to time. Tropicana’s website at https://www.tropicanacorp.com.my also provides an avenue for shareholders and members of the public to access information pertaining to the Group, which is being updated regularly. General Meetings The Company’s AGMs are the principal forum for dialogue and interaction with its shareholders at which the shareholders are annually informed and updated on current developments of the Group. The Board presents an overview of the performance of businesses in the Group and encourages shareholders to participate in the question and answer sessions. The Board members, Senior Management and the Company’s External Auditors as well as advisors, if applicable, are present to respond to the shareholders’ questions during the meeting. The notice and agenda of the AGM together with the proxy form are given to shareholders at least twenty-eight (28) days before the AGM of the Company, which gives shareholders sufficient time to prepare themselves to attend the AGM of the Company or to appoint a proxy to attend and vote on their behalf. Each item of special businesses included in the notice of AGM is accompanied by an explanatory statement for the proposed resolution to facilitate the full understanding and evaluation of the issues involved. Paragraph 8.29A of the MMLR of Bursa Securities has mandated all listed issuers to carry out poll voting for any resolution set out in the notice of any general meeting, or in any notice of resolution which may properly be moved and is intended to be moved at any general meeting. In addition, at least one (1) independent scrutineer will be appointed to validate the votes cast at the general meeting. During the 44th AGM of the Company and the Extraordinary General Meeting (“EGM”) of the Company held on held on 23 June 2023, shareholders were briefed on the voting procedures and the results of the poll were verified by the independent scrutineer, Commercial Quest Sdn. Bhd. The poll voting was conducted via electronic means and the results of the voting were displayed on the screen. The results of all resolutions proposed at the 44th AGM of the Company and the EGM of the Company were subsequently announced to Bursa Securities on the same day, respectively. In line with MCCG, the minutes of the 44th AGM and EGM were made available on the Company’s website at https://www.tropicanacorp. com.my/reports-and-presentations within thirty (30) business days after the meetings. COMPLIANCE WITH MCCG Overall, the Company has applied all the practices encapsulated in MCCG, except for those departures highlighted in the CG Report. The CG Report is available on the Company’s website at https://www. tropicanacorp.com.my/reports-and-presentations. The Company will continue to strive for high standards of corporate governance and improve the corporate governance practices throughout the Group. KEY FOCUS AREAS AND FUTURE PRIORITIES The Board is committed to ensuring good corporate governance and practices are implemented and maintained throughout the Group. Moving forward, the Board will continue to improve the Company’s corporate governance practices by taking steps to address the current departures from the practices stipulated in the MCGG and instill a risk and governance awareness culture and mindset throughout the organisation in the best interests of all stakeholders. This Statement together with the CG Report were approved by the Board on 29 April 2024. 159 GOVERNANCE
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