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• RMC is a sub-committee of the Audit and Risk
Committee.
• Supports the Audit and Risk Committee in the
development and implementation of the Group’s risk
management and internal control framework.
• RMC is composed of Board representatives from
KFima and Fima Corporation Berhad (“FimaCorp”)
(the Group’s listed subsidiary) and FimaCorp’s Chief
Operating Officer.
• RMC is supported by the Risk Management
Unit (“RMU”) which is made up of executives/
management of the respective business units.
The RMU is responsible for managing, mitigating
and monitoring strategic and operational risks at
company/divisional level.
• Responsible for ensuring the Group’s compliance
with its continuous disclosure obligations and for
overseeing the Company’s disclosure practices
under the Company’s Corporate Disclosure Policy.
• The committee comprises various members of
Group senior management.
• Deliberates on the performance and conduct of
the Group’s operating units including the status of
internal audit findings, implementation of Group
policies and examining all strategic matters affecting
the Group.
• The HOD comprises of Group MD as Chairman and
all heads of divisions and support function.
• The GSC oversees how the Group’s sustainability
programs support business goals and aspirations,
and to monitor the progress thereof.
• Consists of representatives from the Boards of KFima
and FimaCorp and members of senior management.
• The GSC’s Terms of Reference can be found on the
Company’s website.
• Project committees and teams are set up at the
divisional and operating levels by the respective
management.
• The committees and teams comply with the best
practices in good governance, subject always to the
counsel of the Board and compliance with any policy
and delegated authority limits set by the Board.
• Progress reports on the respective projects are
submitted to the Board of the subsidiary and KFima,
as may be necessary in the circumstances.
Risk Management
Committee (“RMC”)
Disclosure
Committee
Heads of Divisions
(“HOD”)
Group
Sustainability
Committee (“GSC”)
Ad-Hoc Committees
and Teams
The Board is also supported by various committees which have been established to assist in the discharge of
the Board’s oversight functions. The committees are:
Meetings and Time Commitment
The Board meets regularly at least four (4) times
a year at quarterly intervals and holds additional
meetings as and when the Board thinks appropriate.
All Directors are expected to allocate sufficient time
to their role on the Board and Committees on which
they serve in order to discharge their responsibilities
effectively. Details of Board and Committee
attendance at FYE2019 are disclosed herein.
Throughout FYE2019, Directors also participated
in the consideration and approval of matters of the
Company by way of written resolutions circulated to
them. Supporting written materials were provided in the
circulation and verbal briefings were given by the Group
MD or the Company Secretaries when required.
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
70