Human Resource Management The established Human Resource policies and procedures provide clear guidelines with regards to recruitment, human resource development and performance appraisal to enhance employee’s competency levels have been disseminated to all employees. The policies and procedures are reviewed on a periodic basis to ensure they remain relevant, and appropriate controls are in place to manage operational risks and compliance with regulatory requirements (where applicable). The policies and procedures are available for reference to all levels and are easily accessible via the Groups internal employee portal. The Group also identifies training and development programmes and schedules for employees to acquire the necessary knowledge and competency to meet their performance and job expectations as well as to inculcate the Group’s culture of continuous learning. A performance management system has been established to assists in the alignment of employees, resources and systems to meet the Group’s strategic goals. Internal Audit The Group has an in-house internal audit team, that has been tasked to provide independent, reasonable and objective assurance, as well as internal consulting services to improve the overall efficiency of operations. The internal audit team assists the Group to achieve its objectives by bringing a systematic and disciplined approach in evaluating the effectiveness of the risk management, control and governance process. The audit practices are guided by Professional Internal Auditing Standards as prescribed by the Institute of Internal Auditors’ International Professional Practices Framework (“IPPF”). The Audit Committee hold regular meetings to deliberate on the internal audit findings and recommendations and reports to the Board. To ensure the adequacy of coverage, internal audit assignments are prioritised based on the results of the risk management exercise, audit cycle and discussions with Senior Management. The Annual Internal Audit Plan is presented to the Audit Committee for approval. REVIEW OF THE STATEMENT BY EXTERNAL AUDITORS The External Auditors have performed limited assurance procedures on this Statement on Risk Management and Internal Control pursuant to the scope set out in Audit and Assurance Practice Guide (“AAPG”) 3, Guidance for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control included in the Annual Report issued by the Malaysia Institute of Accountants (“MIA”) for inclusion in the Annual Report of the Group for the year ended 31st December 2023, and reported to the Board that nothing has come to their attention that causes them to believe the statement intended to be included in the Annual Report is not prepared, in all material respects, in accordance with the disclosures required by paragraph 41 and 42 of the Guidelines, nor is the Statement factually inaccurate. AAPG 3 does not require the External Auditors to consider whether the Directors’ Statement on Risk Management and Internal Control covers all risks and controls, or to form an opinion on the adequacy and effectiveness of the Group’s risk management and internal control system including the assessment and opinion by the Directors and management thereon. CONCLUSION The Board has received reasonable assurance from the Group Managing Director and Group Non-Executive Director that the Group’s existing risk management and internal control system is operating adequately and effectively in all material aspects to meet the Group’s objectives during the financial year under review. The Management has also provided the commitment to continuously review and strengthen the risk management and internal control system to ensure its adequacy and robustness. The Board, after taking into consideration the assurance from the Management and input from relevant assurance providers, is of the view that the Group’s risk management and internal control system in place for the financial year under review is generally adequate and effective to safeguard the interest of shareholders and assets of the Group. This Statement on Risk Management and Internal Control is made in accordance with the resolution of the Board of Directors dated 29 April 2024. 165 GOVERNANCE
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