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158

STATEMENT ON

RISK MANAGEMENT

& I N T E R N A L C O N T R O L

INTRODUCTION

IN ACCORDANCE WITH THE PRINCIPLES SET OUT IN THE MALAYSIAN CODE ON

CORPORATE GOVERNANCE 2012 (“MCCG 2012”), A LISTED COMPANY SHOULD

ESTABLISH A SOUND RISKMANAGEMENT FRAMEWORK AND INTERNAL CONTROL

SYSTEM TO SAFEGUARD SHAREHOLDERS’ INVESTMENTS AND THE COMPANY’S

ASSETS. THE BOARD OF DIRECTORS (“BOARD”) IS PLEASED TO PROVIDE THIS

STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL PURSUANT TO

PARAGRAPH 15.26(B) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA

MALAYSIA SECURITIES BERHAD AND AS GUIDED BY THE STATEMENT ON RISK

MANAGEMENT AND INTERNAL CONTROL: GUIDELINES FOR DIRECTORS OF

LISTED ISSUERS.

RESPONSIBILITY OF THE BOARD

The Board acknowledges the importance of maintaining a sound framework in managing risks to safeguard the shareholders’

investments and the Company’s assets as recommended under Principle 6 of the MCCG 2012.

The Board is constantly and actively identifying the Company’s level of risk tolerance, assessing and monitoring the key

business risks. These include updating the internal control systems of the Company.

The Board however, acknowledges that the system of internal control is designed to manage and reduce the risk of not

achieving business objectives and only provide reasonable and not absolute assurance of effectiveness against material

misstatement of management and financial information and records or against financial losses or fraud.