92 Additional Information We Are Kenanga Leadership Message Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information Kenanga Group’s Climate Change Risk Management Framework On 9 December 2021, the Board had approved Kenanga Group’s Climate Change Risk Management Framework (“CCRM Framework”) to facilitate the incorporation of climate change-related risk considerations into the governance process, business strategy and operations, reporting and disclosure, as well as risk management system of Kenanga Group. The climate change risk to be managed by the Group shall be governed by the existing risk governance structure that involves the Board, Board Committees, Management Committees, Business Units and Group Risk Management. The CCRM Framework supports these efforts by facilitating robust and consistent assessments of economic activities and the impact on climate and the environment. The Framework also covers the sustainability strategy, principles, initiatives and performance of Kenanga Group and focuses on the issues that the Group have determined to be of greatest importance with regard to climate change. In driving the above goals and targets, the Group developed an implementation plan in line with the Climate Risk Management and Scenario Analysis by BNM, the SC’s Task Force of ClimateRelated Financial Disclosures (“TCFD”) Application Guide, and Bursa Securities’ Enhanced Sustainability Reporting Guide. 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, EY and its affiliates, for the Financial Year Ended 31 December 2022 are provided below. Group (RM) KIBB (RM) Statutory Audit 572,800 365,000 Audit/ Assurance Related 55,140 55,140 Non-Audit Fees – EY Assurance Team 67,000 25,000 Grand Total 694,940 445,140 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 2022. Utilisation of Proceeds Raised from Corporate Proposals There was no new fund-raising corporate exercise during the Financial Year Ended 31 December 2022. The proceeds from the previous issuance of Subordinated Notes under the RM250 million in nominal value Tier 2 Subordinated Note Programme which was established on 27 March 2017 are being utilised by the Company for working capital requirement. Details on the outstanding subordinated notes under the programme are set out under Note 25 of the Financial Statements section appearing on page 239 of this Annual Report. CORPORATE GOVERNANCE OVERVIEW STATEMENT
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