QL Resources Berhad (428915-X)
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The Board is assisted by the Risk Management Committee in the oversight and its management of all identified risks.
The Risk Management Committee meets quarterly to ensure that the accountability for managing identified significant risks
are addressed, managed and mitigated on an ongoing basis.
The Statement on Risk Management and Internal Control furnished on pages 49 to 52 of this Annual Report provides an
overview of the state of internal controls within the Group.
Internal Audit Function
The Company has outsourced its internal audit function to an independent professional consulting firm and together with
the Group designated Risk Management Manager, are tasked to provide assurance to the Audit Committee and the Board
on the adequacy and effectiveness of the internal control systems and risk management processes in the Company and
its subsidiary companies. This function also acts as a source to assist the Audit Committee and the Board to strengthen
and improve current management and operating style in pursuit of best practices.
A summary of the major areas of work performed by the Internal Audit during the year are set out in the Audit Committee
Report on pages 30 to 31 of this Annual Report.
PRINCIPLE 7: ENSURE TIMELY AND HIGH QUALITY DISCLOSURE
Corporate Disclosure Policy
In line with increased investor awareness for greater accountability and transparency, the Board has formalised the
Corporate Disclosure Policy and procedure which is in line with the requirements of Main Market Listing Requirements of
Bursa Malaysia to enable comprehensive, timely and accurate disclosures on the Group to the regulators, shareholders
and other stakeholders.
Leverage on Information Technology for Effective Dissemination of Information
The Company uses information technology in communicating with stakeholders, including a dedicated section for Investor
Relations on the Company's website at
This site provides information such as, amongst others, the
Company’s performance, corporate strategy, Annual Report, various announcements and other matters affecting
shareholders’ interests.
PRINCIPLE 8: STRENGHTHEN RELATIONSHIP BETWEEN COMPANY AND SHAREHOLDERS
Shareholders’ Participation at General Meeting
The Annual General Meeting (“AGM”) is the principal forum for dialogue between the Company and its shareholders and
investors. At the AGM, the Board briefs the shareholders on the status of the Group’s businesses and operations. The
shareholders are given the opportunity to raise questions on the Group’s activities and prospects as well as to communicate
their expectations and concerns to the Company. Extraordinary General Meeting is held as and when shareholders’
approvals are required on specific matters.
The Board will consider adopting electronic voting to facilitate greater shareholders participation when the facilities for
electronic voting mechanism are more prevalent in the future.
Poll Voting
In line with the MMLR, all resolutions set out in the notice of general meetings shall be voted by poll.
Effective Communication and Proactive Engagements with Shareholders
The Company recognises the importance of communicating with its shareholders and does this through the Annual Report,
AGM and announcements via Bursa Malaysia. The Company has set up a website to enable an active dialogue with its
investors and shareholders with the intention of giving investors and shareholders a clear and complete picture of the
Company's performance and position as possible. Further, QL’s investors relation activities serves as an important
communication channel with the shareholders, investors and the investment community, both in Malaysia and internationally.
Corporate Governance Statement
(Cont’d.)
