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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 215

Investment and Tender Committee (ITC) • Review emerging risk and opportunities, market
outlook (i.e. market study and market analysis), economic
Chairman indicators, currency market, industry/regulatory
• Datuk Dr Abd Hapiz Abdullah developments as well as key business developments,
which may affect the investment portfolio, the Group’s
Member investment strategy and the Group’s financial health
• Choy Khai Choon
The Group’s Procurement Matters
• Datuk Lim Thean Shiang
• Review the Group Procurement Policies & Procedure,
• Azman Ahmad including its framework
(appointed as ITC member on 18 October 2021)
• Review the efficiency and effectiveness of the
Group’s centralised procurement initiatives
Responsibilities & Duties
• Review and recommend and/or approve tender awards and
• Ensuring that MSM has in place optimum any variation order for the awarded contracts
frameworks, mechanisms, policies and procedures for • Review status reports on procurement transactional
effective investment and procurement undertakings and efficiency and effectiveness, including amongst others,
activities completion and delivery, spending against budget annually
• Review proposals related to new investments,
divestments and procurements of the Group in line with
MSM’s prevailing related policies and procedures The details of the responsibilities and duties of ITC are
disclosed in the TOR of ITC which is made available on
• Review the Investment and Tender Committee Report the Company’s corporate website at http://www.msmsugar.
for inclusion in the Annual Report com/our-company/corporate-governance
The Group’s Investment and Divestment Matters
• Review and recommend to the Board, the specific
initiatives, projects and potential investments and
divestments to achieve the approved Group Strategic
Plan
• Review the Group’s investment portfolio and assess the
performance of the Group’s investments in the context
of business and operational performance as well as
changing market environment

Details of the ITC Report is set out on pages 245 to 246
of this Annual Integrated Report