the Audit Committee members, Group Managing Director (whom was subsequently redesignated to Deputy Group Chief Executive Officer), Group Chief Executive Officer, Chief Executive Officer and Deputy Chief Executive Officer, and significant issues were discussed at the Audit Committee Meetings. Upon conclusion of each meeting, the Group Company Secretary prepared a report which summarised the main discussion points and decisions of the Audit Committee to be tabled at the immediately following Board Meeting. The Chairperson of the Audit Committee reported to the Board the activities that it had undertaken and the key recommendations for the Board’s consideration and decision. Minutes of each Audit Committee meeting were recorded and tabled for confirmation at the next Audit Committee meeting and subsequently presented to the Board for notation. The Audit Committee also had a private discussion with the External Auditors two (2) times during the financial year without the presence of Management and employees of the Company during meetings held on 18 April 2025 and 19 November 2025. On 10 February 2026, Datuk Tan Mann Chai, JP was appointed as the Audit Committee member in place of Ms Alice Dora Boucher, following her resignation on the same date. SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE DURING THE YEAR During the financial year under review, the Audit Committee had carried out the following activities in discharging its functions and duties, which are in line with its responsibilities as set out in its TOR. The activities of the Audit Committee for the FY2025 with regard to matters relating to the financial statements of the Group and External Auditors were as follows: • Reviewed the unaudited quarterly financial results including its related Bursa Securities’ announcement and press statements, the consolidated annual audited financial statements of the Company and the Group, prior to recommending the same to the Board for approval, focusing particularly on: - the overall performance and prospects of the Group; - the changes and implementation of major accounting policies and practices and the auditor’s report highlighting the key audit matters and the implications on the Group; - compliance with accounting standards and other legal requirements; and - significant accounting and audit matters raised by the External Auditors in the financial statements and the corresponding judgement made by the Management. • Discussed significant accounting and audit issues in respect of the financial statements of the Company for the financial year ended 31 December 2024 (“FY2024”) with the External Auditors and assessed the actions and procedures taken by the External Auditors in respect to those areas. • Reviewed the performance of the External Auditors, by taking into consideration their suitability, objectivity and independence, in relation to their competency, audit quality and resource capacity in performing the audit of the Group and recommended their re-appointment to the Board. The annual assessment was performed by Group Finance Department and the External Auditors have reconfirmed to the Audit Committee their independence in carrying out the audit for the financial statements of the Group for the financial year ended 31 December 2024 vide the report of audit results submitted to the Audit Committee as well confirmation obtained at the Audit Committee meeting. The Board had recommended the re-appointment of Ernst & Young PLT as External Auditors of the Company for FY2025 at the Company’s 46th Annual General Meeting held on 25 June 2025 which was approved by the shareholders. • Reviewed the audit planning memorandum for FY2025 with the External Auditors’ including the adequacy of the external audit team. The areas of audit emphasis and action plans were discussed in length with the External Auditors and the Management to ensure that adequate actions were carried out to ascertain compliance with the relevant accounting standards, prior to finalising the audited financial statements of the Group. Received the declaration of independence in writing by the External Auditors in respect of the audit for FY2025. 227
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