35 MANAGING OUR KEY ESG RISKS GOOD GOVERNANCE SUSTAINABLE ECONOMIC GROWTH ENVIRONMENTAL STEWARDSHIP EMPOWERING PEOPLE AND COMMUNITIES APPENDIX GOOD GOVERNANCE We prioritise independent auditing to build trust and confidence of our financial statements. In line with BNM Guidelines on External Auditors, our Audit Committee carries out a tender process for a new audit firm on a regular basis. The appointment of audit firms complies with the stringent tender and appointment process outlined in the Group Procurement Policy. To further safeguard objectivity and independence, our practice includes rotating the audit partner working on our assurance to ensure the appointed audit engagement partner does not serve a continuous period of over five (5) years. Our Board Diversity The Board’s composition reflects a diverse range of perspectives, experiences, and expertise, which has a positive influence on the Group’s strategic decision-making. For more information on our Corporate Governance, please refer to the Corporate Governance Overview Statement on pages 67 to 97 of our Annual Report 2023. Nationality 87.5% 12.5% Malaysian Non-Malaysian Independence 50% 50% Independent Directors Non-independent Directors Gender 75% 25% Male Directors Female Directors Age 25% 25% 50% Above 70 60 - 69 50 - 59 Our Sustainability Governance Establishing a sustainability governance structure with clearly defined roles and responsibilites is paramount to ensure accountability and effectiveness in the execution of sustainability initiatives within the Group. As the Group’s highest governing body, the Board drives the overarching leadership, strategy and oversight of the Group’s ESG approach to risks and opportunities, supported by the relevant committees as defined below: Sustainability Governance at Kenanga Board & Management Committees Governing Body Roles & Responsibilities Board of Directors (“the Board”) Highest approval authority and oversees the implementation of sustainability initiatives, including providing stewardship, guidance and direction for the sustainability agenda for the Group while promoting sustainability through appropriate ESG considerations in the Group’s business strategies, governance and decision-making. Group Governance, Nomination and Compensation Committee (“GNC”) An independent Board Committee that supports the Board in providing oversight on the progress of sustainability, particularly in ensuring the governance of sustainability within Kenanga, as well as the necessary alignment and compliance with applicable statutory and regulatory requirements.
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