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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 233

In forming the opinion on the above, the AGRC has e. Reviewed the Group Internal Audit report on review
considered, amongst others, the terms and conditions of the Recurrent Related Party Transactions Procedures.
of the Proposed Disposal, rationale, financial effects
as well as the evaluation of the Independent Adviser.
• On 17 February 2021, the AGRC reviewed Governance and Integrity
the Proposed Disposal.
• On 29 March 2021, the AGRC sought the preliminary a. Reviewed the quarterly Progress Report on Corporate
view from the Independent Adviser on Proposed Governance Activities of MSM Group.
Disposal.
b. Reviewed the latest updates on MCCG 2021 issued by
• On 26 April 2021, the AGRC reviewed the update of
Proposed Disposal by Management. Securities Commission Malaysia and MSM’s gap analysis,
which was recommended to the Board for information and
• On 7 July 2021, the AGRC reviewed the Proposed direction.
Circular to Shareholders for the Disposal of Equity
in MSM Perlis Sdn Bhd to FGV Integrated Farming c. Reviewed new and the revised Policies & Procedures
Holdings Sdn Bhd and recommended to the Board and Limits of Authority under the Group.
for approval.
d. Reviewed the establishment of Whistleblowing
b. Reviewed and analysed the quarterly report on Committee and Whistleblowing System implementation
Recurrent Related Party Transactions for monitoring within MSM Group of Companies.
of the transactions against the shareholders’
mandate from the 10 Annual General Meeting
th
held on 17 June 2021. Risk Management
c. Reviewed the Circular to the shareholders for the purpose
of seeking mandate for renewal and new Recurrent a. Reviewed the quarterly Progress Report on Group Risk
Related Party Transactions of the Group at the Annual Register Report and Business Continuity Management
General Meeting 2021. (BCM) and provided necessary guidance on identification,
assessment and mitigation of key business risks and
d. Reviewed the revision to Related Party Transactions and effectiveness of its mitigation.
Recurrent Related Party Transactions Procedures.
b. Reviewed quarterly progress updates on:
• COVID-19 status within the Group
• Key emerging risk that would impact the
Company’s business and operation.