KUMPULAN FIMA ANNUAL REPORT 2017

Annual Report 2017

statement on

corporate governance

COMPANY SECRETARIES

To ensure the effective functioning of the Board, all Directors have full access to the advice and services of the Company

Secretaries. The appointment and removal of the Company Secretaries is a matter reserved for the Board as a whole.

The Company Secretaries have oversight on overall corporate secretarial functions of the Group, both in Malaysia and the

region where the Group operates. The Company Secretaries also serve and advise the Board on matters relating to compliance

with relevant laws, rules and regulation, governance best practices and Directors’ duties and responsibilities. These include

obligations on Directors relating to disclosure of interests and disclosure of any conflicts of interest in transactions involving

the Group, prohibition on dealing in securities and restrictions on disclosure of price-sensitive information in line with the

recommendation of the MCCG 2012. The Company Secretaries attend all meetings of the Board and relevant Board Committees

and are responsible for the accuracy and adequacy of records of proceedings of the Board and Board Committees and

resolutions.

The Company Secretaries also facilitate timely communication of decisions made and policies set by the Board at Board

meetings to the Management for action, lodgements with the stock exchange and other regulators, management of dividend

payments and ESS, and oversight of the relationship with the Company’s share registrar.

To render to the advisory roles to the Board, the Company Secretaries possess the necessary qualifications and experience.

The Company Secretaries’ profiles are available on page 23 and 24 of this Annual Report.

COMMUNICATION AND RELATIONSHIP WITH SHAREHOLDERS

The Company acknowledges the importance of an effective communication channels between the Board, shareholders and

general public.

The Board views the Company’s general meetings as a valuable opportunity for shareholders to exchange views and engage

in active dialogue with the Board. At the Company’s AGM for example, shareholders have the opportunity to ask questions

about, or make comments on, the Company’s operations and on any resolutions being proposed. Shareholders may also

direct questions and comments to the Company’s external auditor on the conduct of their audit of the Company’s financial

statements.

Apart from the Company’s announcements through Bursa Malaysia, the Company’s corporate website at

is the primary source of information for the investors. It houses the Company’s corporate profile, individual profiles of senior

management, financial results, annual reports, corporate governance related policies and the Company’s operations and

major subsidiaries.

The Company also subscribes to internal guidelines on corporate disclosure policies and procedures. These provide the

Group with the appropriate guidance to discharge its disclosure obligations and ensure that all communications to the public

by the Company are timely, complete and accurate in accordance with all applicable legal and regulatory requirements. As

stated previously, corporate disclosure practices are administered and overseen by a Corporate Disclosure Committee.

ACCOUNTABILITY AND AUDIT

5.1 Financial Reporting

For financial reporting through quarterly reports to Bursa Malaysia Securities Berhad and the Annual Report to

shareholders, the Directors have a responsibility to ensure the accuracy of the statements of comprehensive income,

the statements of financial position, the statements of cash flow and all other financial disclosure based on Malaysian

Accounting Standards Board rules and other legislation. The Audit Committee assists the Board to oversee the Group’s

financial reporting processes and the quality of its financial reporting. The Statement of Responsibility by Directors in

respect of preparation of the annual Audited Financial Statements is presented herein.