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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 229

AUDIT, GOVERNANCE AND

RISK COMMITTEE REPORT

THE AUDIT, GOVERNANCE AND RISK COMMITTEE (AGRC OR COMMITTEE)
WAS ESTABLISHED BY THE BOARD OF DIRECTORS OF MSM MALAYSIA HOLDINGS
BERHAD IN LINE WITH THE MAIN MARKET LISTING REQUIREMENTS (LISTING
REQUIREMENTS) OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES)
WITH THE PRINCIPAL ROLE TO ASSIST THE BOARD IN CARRYING OUT ITS OVERSIGHT
RESPONSIBILITIES IN RELATION TO FINANCIAL REPORTING, EXTERNAL AUDIT
AND INTERNAL AUDIT PROCESSES, CONFLICT OF INTEREST AND RELATED PARTY
TRANSACTIONS. THE AGRC ALSO PLAYS A CRUCIAL ROLE IN ENSURING APPROPRIATE
CHALLENGE AND GOVERNANCE IN MATTERS RELATING TO INTERNAL CONTROL,
FINANCIAL REPORTING AS WELL AS GOVERNANCE, RISK MANAGEMENT AND ETHICS
PROGRAMMES OF THE GROUP.

THE BOARD IS PLEASED TO PRESENT THE AGRC REPORT FOR THE FINANCIAL YEAR
ENDED 31 DECEMBER 2021.

COMPOSITION OF AGRC
The current AGRC comprises of four members, all of whom are Independent Non-Executive Directors. The composition of
the AGRC complies with the Listing Requirements of Bursa Securities and the principles and practices set out in the Malaysian
Code on Corporate Governance 2021 (MCCG 2021) that Audit Committee should comprise solely of Independent Directors.
None of the AGRC members is a former key audit partner of the Group.
The Committee is chaired by Choy Khai Choon, an Independent Director who is not the Chairman of the Board, thus satisfying
the requirement of separation of power between the Chairman of the Board and the Chairman of AGRC as prescribed by
the MCCG 2021. He is a member of the Malaysian Institute of Accountants (MIA) and also an Honorary Fellow of CPA Australia.
The Chairman of the Committee meets the requisite qualifications as stipulated in paragraph 15.09(1)(c)(i) of the Listing
Requirements.

The membership and meeting attendance of AGRC members for 2021 are as follows:

No. of meetings attended during 2021
Members Type of membership
Held Attended

Choy Khai Choon Chairman/Independent 13 13
Non-Executive Director
Dato’ Rosini Abd Samad Member/Independent 13 13
Non-Executive Director

Dato’ Muthanna Abdullah Member/Independent 13 13
Non-Executive Director

Datuk Lim Thean Shiang Member/Independent 13 13
Non-Executive Director