Hatching For The Future - teo seng capital berhad

Teo Seng Capital Berhad
Corporate Governance Statement
Access to Advice
In furtherance to their duties as the Committee’s members of the Company, there should be an agreed procedure for the
members, whether as a full Committee or in their individual capacity, to take independent professional advice at the
Company’s expense, if necessary.
ACCOUNTABILITY AND AUDIT
Financial Reporting
In making of announcements for quarterly and annual financial statements to Bursa Malaysia Securities Berhad and
Shareholders, the Board of Directors have responsibility and endeavored to present a balanced and understandable
assessment of the Group's financial positions and prospects. The Audit Committee assists the Board to ensure the
accuracy and adequacy of the information announced.
Internal Control
The Board is committed to maintain a sound system of the internal control in the Group to safeguard Shareholders'
investments and the Company's assets. Accordingly, the directors are obliged to ensure that the internal control system are
existed and practiced within the Group. The Audit Committee assists the Board in fulfilling this obligation by reviewing the
effectiveness and adequacy of the system.
The following key reporting systems and procedures that have been in place within the Group:
1) Regular and comprehensive information provided to management covering financial and cashflow performance.
2) Regular visits to operating units by members of the Board and senior management.
3) Regular internal audit visits, which monitor compliance with procedures and assess the integrity of financial
information.
4) Defined delegation of responsibility to the Board of Directors and Management of the Group including authorisation
level for all aspects of the business.
Further details relating to the review on internal control system are set out under Statement of Internal Control on page 22
and page 23 of the Annual Report.
Relationship with Auditors
The Company has always maintained an appropriate and transparent relationship with its Auditors in seeking professional
advice and ensuring compliance with the applicable approved accounting standards in Malaysia. The Board and Audit
Committee will be meeting the external Auditors at least once a year. The external Auditors fill an essential role for
Shareholders by enhancing the reliability of the Company's financial statements and giving assurance of that reliability to
users of these financial statements.
INVESTOR RELATIONS AND SHAREHOLDERS COMMUNICATION
The Group recognises the need to inform the shareholders of all significant developments concerning the Group on a
timely basis with strict adherence to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Shareholders and investors are kept informed of all major developments within the Group by way of announcements via
the Bursa LINK, the Company’s Annual Reports, website and other circulars to shareholders with an overview of the Teo
Seng Group’s financial and operational performance. The Company always maintains transparency in business activities
and to continuously keep the shareholders and the public well informed on the Company’s activities.
Annual Report 2012
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