AwanBiru Technology Berhad - Annual Report 2021

Corporate Governance Overview Statement Awantec Board of Directors (the “ Board ”), Management and employees of the Group affirm their commitment in ensuring that the Group is at the forefront of good governance. The Group adheres and reports based on the following statutory requirements, best practices and guidelines:- i. Companies Act 2016 (“ CA 2016 ”) ii. Bursa Securities Securities Berhad (“ Bursa Securities ”) Main Market Listing Requirements (“ MMLR ”) iii. Malaysian Code on Corporate Governance 2017 (“ MCCG ”) iv. Corporate Governance Guide: Moving from Aspiration to Actualisation (“ CG Guide ”) This Statement gives an overview of how the Company complies with the three (3) main corporate governance principles in MCCG 2017: (a) Principle A: Board leadership and effectiveness; (b) Principle B: Effective audit and risk management; and (c) Principle C: Integrity in corporate reporting and meaningful relationship with stakeholders. This Statement should be read together with the Company’s Corporate Governance Report (“ CG Report ”) which describes how the Company applies the Corporate Governance (“ CG ”) practices for the financial year ended 30 June 2021 (“ FY2021 ”). The CG Report is available on the Company’s website: https://www.awantec.my or through the announcement published on the website of Bursa Securities. For the financial year under review, the Company was not in compliance of Principle 4.5 as it does not meet the recommended 30% for women participation on its Board. It has currently two (2) female directors out of ten (10) directors. GOVERNANCE FRAMEWORK The diagram below describes the governance framework of the Group to demonstrate the interaction between the Board and its stakeholders. The Group has also in place processes to ensure delegation flows through the Board and its committees and into the organisation. Board Oversight, Engagement, Delegated Authority & Accountability Engagement Stakeholders Board of Directors Board Sub-Committees Internal Control & Audit Functions Risk Management Framework President/ Group Chief Executive Officer (“GCEO”) Senior Management Business Divisions, Working Committees Long Term Incentive Plan Committee (“LTIPC”) Board Audit Committee (“AC”) Board Risk Management Committee (“RMC”) Board Remuneration Committee (“RC”) Board Nomination Committee (“NC”) Policies & Procedures Engagement Reporting & Accountability Awantec | Transparency Annual Report 2021 80