Annual Report 2020

We have established andmade public on our website, an Anti-Bribery Policy (ABP) and also updated our Whistle-Blowing Policy. The guidelines on gifts and entertainments are clearly outlined in our ABP for suppliers and business associates to abide by, while the Whistle-Blowing Policy provides safe channel for the reporting of genuine concerns without fear of reprisal. QL continues its annual reviews of practices with reference to the Malaysian Code on CorporateGovernance 2017. A comprehensive evaluation of the Board was conducted in accordance to practising good corporate governance. To perpetuate our vision of creating value for all, we take it upon ourselves to monitor Board performance and commit to improving it for shareholders’ benefit. More details of the exercise can be read on page 76. Page 74 contains details of our Corporate Governance. CLOSING REMARKS AND APPRECIATION As a proudly Malaysian corporation which has regional presence, QL is committed to helping the nation’s economy recover. We will continue our relentless effort to contribute to the nation’s development by prioritising value creation for all stakeholders and emphasising business sustainability. Empathising with the sacrifices of frontliners in particular healthcare professionals at the height of the pandemic outbreak in Malaysia, QL channeled RM500,000 to The Edge COVID-19 Equipment Fund in support of relief efforts and initiatives. Among the equipment supplied via the Fund were face masks, face shields, personal protection suits, ventilators and oxygen concentrators. FY2020 saw our Senior Independent Non- Executive Director, Mr. Chieng Ing Huong, Eddie, retiring for a well-earned rest after serving QL faithfully since 24 December 2001. Mr. Tan Bun Poo, Robert, who has been an Independent Non-Executive Director of QL since 1 June 2011, also retired after rendering QL nine years of service. We are indeed indebted to both independent directors for their contribution and sound advice to the Board, which have guided QL as we chart our growth story. Replacing Mr. Chieng and Mr. Tan are Mr. Low Teng Lum and Mr. Wee Beng Chuan, who bring onboard QL relevant experience in governance and corporate best practices. They were identified and vetted for suitability based on objective criteria, merit and with due regard for diversity in skills, experience, age, and calibre. Both Mr. Low and Mr. Wee are chartered accountants who are well versed in related industries. Their profiles are available on pages 17 and 22. We look forward to their firm hand and good counsel as we continue to advance in our efforts to build sustainable growth and become the preferred agro-based corporation. A note of appreciation goes out to our customers, vendors, business partners and shareholders for the belief and support in the QL brand and growth story. To the Board and Management team and all employees, thank you for the industriousness and contribution that have enabled the 20 years of strong track record and uplifting FY2020 results. Just as how we have historically returned positive results in the last twenty years as a listed company, we are determined to continue our sterling record. Calling on our strong fundamentals, deep roots and wide network, we will continue unwavering in our strategy, work hard, and aim for another year of growth in a period shrouded in uncertainties. A Milestone on Our Sustainable Growth Journey 27