ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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STATEMENT ON CORPORATE GOVERNANCE (cont’d) 013 RELATIONS WITH SHAREHOLDERS AND INVESTORS The Board maintains a good rapport with shareholders and recognises the importance of proper and timely dissemination of information to the shareholders and investors. The distribution of annual reports, the release of financial results on a quarterly basis and announcement to Bursa Securities provides shareholders and the investing public with an overview of the Group’s performance and operations. The Annual General Meeting (“AGM”) is the principal forum for dialogue with public shareholders. The Board encourages participation from shareholders by having a question and answer session during the AGM whereby Directors are available to discuss aspects of the Group’s performance and its business activities. The Company's website, www.wwtkh.com, serves as an additional and useful medium for communication and as a source of updated information to our shareholders and the general public. Together with links to the subsidiaries’ websites, all relevant information on the Group is now easily accessible. ACCOUNTABILITY AND AUDIT Relationship with the Auditors Through the Audit Committee, the Company has established a transparent and appropriate relationship with the Group’s external auditors in seeking their professional advice towards ensuring compliance with the relevant accounting standards. The role of the Audit Committee in relation to external auditors is stated under the terms of reference of the Audit Committee on pages 17 to 18 of this Annual Report. Statement on Risk Management and Internal Control The Board acknowledges its overall responsibility for maintaining a consistent system of risk management and internal control to manage principal risks and to safeguard shareholders’ investment and the Group’s assets. The Board’s Statement on Risk Management and Internal Control is as set out in pages 15 to 16 of this Annual Report. Financial Reporting and Directors’ Responsibilities Statement The Directors are responsible for ensuring that financial statements are drawn up in accordance with Malaysian Financial Reporting Standards, International Financial Reporting standards and the provisions of the Companies Act, 1965 in Malaysia. In presenting the financial statements that gives a true and fair view of the financial positions of the Company and of the Group, the Board has used appropriate accounting policies, consistently applied and supported by reasonable and prudent judgements and estimates. The Directors also strive to ensure that financial reporting present a fair and understandable assessment of the Group’s and the Company’s position and prospects. Quarterly financial statements were reviewed by the Audit Committee and approved by the Board prior to the release to the Bursa Securities. The statement by Directors made pursuant to Section 169 of the Companies Act, 1965 in Malaysia is set out on page 25 of this Annual Report.
014 STATEMENT ON CORPORATE GOVERNANCE (cont’d) OTHER INFORMATION Non-audit fees The non-audit fees paid to external auditors by the Company and its subsidiaries during the financial year ended 31 December <strong>2012</strong> amounted to RM22,000. Share Buy-Back During the financial year, the Company did not enter into any share buyback transactions. Depository Receipt (“DR”) Programme During the financial year, the Company did not sponsor any DR Programme. Sanctions and / or Penalties There were no sanctions or penalties imposed on the Company by the relevant regulatory bodies during the financial year. Variation in Results There was no variance between the results for the financial year and the unaudited results announced. Profit Guarantee During the financial year, there was no profit guarantee given by the Company Material Contracts or Loans There was no material contract entered into by the Company and/or its subsidiaries involving Directors’ and major shareholders’ interests during the financial year. Recurrent Related Party Transactions (“RRPT”) The information on RRPT for the financial year is presented in the Audited Financial Statements in the Annual Report.
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Page 5 and 6: 004 CHAIRMAN’S STATEMENT (cont’
Page 7 and 8: 006 DIRECTORS' PROFILE ____________
Page 9 and 10: 008 DIRECTORS' PROFILE (cont’d) Y
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Page 19 and 20: 018 AUDIT COMMITTEE REPORT (cont’
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ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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