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Annual General MeetingAxiata held its first AGM as a listed entity on 20 May2009. The AGM was fully utilised as the principalopportunity for the Board to meet Axiata’s shareholdersand for the Chairman to explain Axiata’s progress andreceive questions from the shareholders. After thewelcome remarks by the Chairman, the proceedingscommenced with the President & GCEO’s presentationon highlights of Axiata’s operating and financialperformance. The President & GCEO also shared with themeeting the responses to questions submitted in advanceby the MSWG. This was followed by the presentation ofthe unqualified external auditors’ report to shareholdersand question and answer session where shareholderswere invited to raise questions on Axiata’s accounts andother items for approval as well as on the Group’soperations in general. The resolutions were then put tovote. The Board, Management and Axiata’s external legalcounsels and auditors, PricewaterhouseCoopers Malaysiawere present to answer questions raised and provideclarification as required by the shareholders.A press conference was held immediately after the AGMwhere the Chairman, the President & GCEO and GCFOupdated the media representatives on the resolutionspassed and answered questions on matters related tothe Group. The results of all resolutions were announcedon the same day via Bursa LINK, which is accessible onAxiata’s website.The Directors’ Responsibility Statement for the auditedfinancial statements of Axiata and the Group is set outon page 156 of the Annual Report. The details of theCompany and the Group financial statements for FY09can be found on pages 157 to 287 of the AnnualReport.Internal ControlThe Board recognises that the ultimate responsibility forensuring the Group’s sound internal control system andreviewing the effectiveness lies with the Board in orderto protect the Group’s assets and Axiata’s shareholderinvestments.The Statement on Internal ControI, which provides anoverview of the state of internal control within theGroup, is set out on pages 79 to 88 of this AnnualReport.Relationship with AuditorsAxiata’s relationship with the external auditors is primarilymaintained through the BAC and the Board. Key featuresunderlying the BAC’s relationship with both, internalauditors and the external auditors are detailed in theBAC Report on pages 89 to 99 of this Annual Report.A summary of the activities of the BAC during the yearare set out on pages 90 to 91 of the Annual Report.ACCOUNTABILITY AND AUDITFinancial ReportingThe Board ensures that shareholders are presented witha clear, balanced and comprehensive Group’s financialperformance and prospects through the audited financialstatements, quarterly announcement of results, Chairman‘sstatement, President & GCEO’s Business Review in theAnnual Report as well as corporate announcements onsignificant developments affecting the Group inaccordance with the Main LR. BAC reviews financialstatements and quarterly announcement of results in thepresence of external auditors and internal auditors beforerecommending the same for the Board’s approval.COMPLIANCE STATEMENTThe Board is of the view that Axiata has complied withthe Best Practices in Corporate Governance as set outin Part 2 of the Code.This Statement on Corporate Governance is made inaccordance with the resolution of the Board of Directorsdated 22 April 2010.Axiata Group Berhad • 078