AUDIT COMMITTEE REPORT

The Board presents the Audit Committee Report which provides insights into the manner in which the Audit Committee discharged its functions for the Group in 2015.

The Audit Committee (“AC”) comprises four members, all of whom are Non-Executive Directors (“NEDs”): three are Independent NEDs and one is a Public Interest Director who also satisfies the test of independence under Bursa Malaysia Securities Berhad’s Main Market Listing Requirements (“MMLR”). This meets the requirements of paragraph 15.09(1)(a) and (b) of the MMLR. The AC members and their attendance records are outlined in the Corporate Governance (“CG”) Statement.

The AC Chairman, Mr. Pushpanathan a/l S.A. Kanagarayar, is a member of the Institute of Chartered Accountants of Scotland, the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants. Accordingly, Bursa Malaysia complies with paragraph 15.09(1)(c)(i) of the MMLR.

The Board reviews the terms of office of the AC members and assesses the performance of the AC and its members through an annual Board Committee effectiveness evaluation. The Board is satisfied that the AC and its members discharged their functions, duties and responsibilities in accordance with the AC’s Terms of Reference, and supported the Board in ensuring the Group upholds appropriate CG standards.