AUDIT COMMITTEE
The Audit Committee consists of three independent non-executive directors, namely Mr. Lim Mun Kee, Tan Sri Datuk Seri Panglima Abdul Kadir Bin Haji Sheikh Fadzir and Mr. Michael Lai Kai Jin. The Audit Committee is chaired by Mr. Lim Mun Kee.
The principal responsibilities of the Audit Committee include, amongst others, ensuring the objectivity and credibility of financial reporting and internal control principles and maintaining an appropriate relationship with the external auditor of the Company.
The Audit Committee is also responsible for reviewing the Group's whistle-blowing procedures which allows employees to raise concerns, in confidence and in anonymity, about possible improprieties in financial reporting, internal control or other matters and ensures that these arrangements allow fair and independent investigation of such matters and appropriate follow up actions.
NOMINATION COMMITTEE
The Nomination Committee currently consists of two executive directors, namely, Tan Sri Dr Chen Lip Keong and Mr. Chen Yepern, and three independent nonexecutive directors, namely, Tan Sri Datuk Seri Panglima Abdul Kadir Bin Haji Sheikh Fadzir, Mr. Lim Mun Kee and Mr. Michael Lai Kai Jin. Tan Sri Datuk Seri Panglima Abdul Kadir Bin Haji Sheikh Fadzir acts as the Chairman of the Nomination Committee.
The principal responsibilities of the Nomination Committee are to review, from time to time, the structure, size and composition (including the skills, the knowledge and experience) of the Board and make recommendations to the Board regarding any proposed changes to the composition of the Board to complement the Company's corporate strategy. The Nomination Committee also undertakes to identify individuals suitably qualified to become a Director and nominate such individual to the Board for directorship. The Nomination Committee also assesses the independence of independent non-executive directors, makes recommendations to the Board on the appointment, re-appointment and succession plans of Directors, reviews and monitors the implementation of the Board Diversity Policy.
REMUNERATION COMMITTEE
The Remuneration Committee currently consists of two executive Directors, namely, Tan Sri Dr Chen Lip Keong and Mr. Chen Yepern, and three independent non-executive Directors, namely, Tan Sri Datuk Seri Panglima Abdul Kadir Bin Haji Sheikh Fadzir, Mr. Lim Mun Kee and Mr. Michael Lai Kai Jin. Tan Sri Datuk Seri Panglima Abdul Kadir Bin Haji Sheikh Fadzir acts as the Chairman of the Remuneration Committee.
The principal responsibilities of the Remuneration Committee are to make recommendation to the Board on the Company's policy for and structure of remuneration of the Directors and senior management of the Company, and to make recommendation to the Board regarding the remuneration packages of executive directors, non-executive directors and senior management of the Company before the Board determines their remuneration based on the expertise, capability, performance and responsibility of our Directors and senior management.
AML OVERSIGHT COMMITTEE
The Company set up an AML Oversight Committee to formulate policies and strategies on AML development and implementation programmes, ensure quality control and act as an oversight committee on AML matters. The AML Oversight Committee currently consists of Mr. Timothy Patrick McNally, Tan Sri Dr Chen Lip Keong, Mr. Chen Yiy Fon, Mr. Chen Yepern and Mr. Michael Lai Kai Jin. Mr. Timothy Patrick McNally acts as the Chairman of the AML Oversight Committee.