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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 245

INVESTMENT AND TENDER

COMMITTEE REPORT

The role of Investment and Tender
Committee (ITC or the Committee) is to
review the Business Plans progress and
performance of MSM’s existing and new
strategic investment. The Committee
THE BOARD IS PLEASED TO PRESENT THE also oversee the operations and ensure
governance of procurement processes
REPORT ON INVESTMENT AND TENDER within the organisation are carried out in a fair,
transparent, effective and comprehensive
COMMITTEE FOR THE FINANCIAL YEAR manner in accordance with the limits
ENDED 31 DECEMBER 2021 (FY2021). set out in MSM Group Limits of Authority
and Group Procurement Policy.

Members Type of membership No. of meetings attended

Datuk Dr Abd Hapiz Abdullah Chairman/Independent 8/8
Non-Executive Director
Choy Khai Choon Member/Independent 8/8
Non-Executive Director

Datuk Lim Thean Shiang Member/Independent 8/8
Non-Executive Director

Azman Ahmad Member/Non-Independent 3/3
(appointed as Member with effect from Non-Executive Director
18 October 2021)

The ITC comprises exclusively of Non-Executive Directors and majority are Independent Directors. The ITC Chairman is
an Independent Non-Executive Director. The Board believes that the current ITC’s composition provides the appropriate
balance in terms of skills, knowledge and experience to promote the interests of all shareholders and to meet the needs of
the Group.

Roles of the Committee

The main responsibilities of the Committee are:
• To ensure that MSM has in place optimum frameworks, mechanisms, policies and procedures for effective investment and

procurement undertakings and activities
• To review proposals related to investments, divestments and procurements of the Group in line with MSM’s prevailing related
policies and procedures

The full details of the Committee’s Term of Reference is published in the Company’s corporate website at www.msmsugar.com