KENANGA ANNUAL REPORT 2020

59 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD Shareholders who logged in to participate in the AGM at the Virtual AGM Portal at https://web.lumiagm.com were able to cast their votes online via the same portal using the same login credentials and pose their questions to the Board on a real time basis. In addition to offering the shareholders with the opportunities to participate in the AGM, pose questions and vote remotely via the RPV Facilities, the Company had enabled its first (1 st ) e-Proxy lodgement via Boardroom Smart Investor Portal, a service also rendered by Boardroom. This alternative mode of submitting the Proxy Form via electronic means was a step up to enable more shareholders to exercise their voting rights by appointing a Proxy to attend and vote in their stead. To assist shareholders in manoeuvering the RPV Facilities, an Administrative Guide with detailed steps was provided to the shareholders to guide them through the process. In addition, Boardroomalso provided aHelpdesk service to assist shareholders who were less-IT savvy. To foster better engagement with the shareholders during the Forty-Sixth (46 th ) AGM, the Company had also arranged for one of its Senior Management personnel to brief the shareholders on live telecast on the Company’s financial performance and operations in respect of the Financial Year Ended 31 December 2019 and Business Prospects for 2020 to keep them abreast of the Company’s achievements and plans moving forward. The above virtual platform had enabled the Company to reach out to a wider spectrum of shareholders by giving them the opportunity to exercise their rights as shareholders by participating at the AGM, and voting from wherever location they might be, even from the comfort of their home. Apart from the above engagement with stakeholders through the Administrative Guide, Annual Reports and general meetings, the Company also makes announcements relating to its quarterly results and other relevant announcements to Bursa Securities via Bursa LINK to provide stakeholders with material key information which could affect their decision making, thus enhancing the level of transparency. DIRECTORS’ RESPONSIBILITY STATEMENT IN RESPECT OF THE PREPARATION OF THE AUDITED FINANCIAL STATEMENTS (Pursuant to Paragraph 15.26(a) of the MMLR) The Board is fully accountable for ensuring that the Audited Financial Statements are prepared in accordance with the Companies Act 2016 and the applicable approved accounting standards set out by the Malaysian Accounting Standards Board so as to present a true and fair view of the state of affairs of the Group and of the profit and loss and cash flow as at the end of the accounting period. In preparing the Audited Financial Statements, the Directors are satisfied that the applicable approved accounting standards in Malaysia have been complied with reasonable and prudent judgment and estimates have been made. The Audited Financial Statements are also prepared on a going concern basis, as the Board has a reasonable expectation, after having made enquiries that the Group has adequate resources, to continue its operational existence in the foreseeable future. ADDITIONAL INFORMATION Audit and Non-Audit Fees The details of the audit and non-audit fees payable to the External Auditors, Ernst & Young PLT ( “EY” ) and its affiliates, for the Financial Year Ended 31 December 2020 are provided below. Group (RM) KIBB (RM) Statutory Audit 542,239 345,000 Audit/ Assurance Related 57,750 57,750 Non-Audit Fees – EY Assurance Team 65,000 27,000 Total 664,989 429,750 Related Party Transactions (“RPTs”) and Recurrent Related Party Transactions (“RRPTs”) RPTs and/ or RRPTs entered into by the Company and/ or KIBB Group are reviewed by the AC during its quarterly meetings to ensure compliance with the MMLR. Material Contracts Involving Interests of Directors, GMD or Major Shareholders There were no material contracts entered into by the Company or its subsidiary companies involving the interests of the Directors, the GMD or major shareholders which still subsisted at the end of the Financial Year Ended 31 December 2020.