The Board of Directors (“the Board”) of Scicom recognises the importance to practice the Corporate Governance Standards in their pursuit of discharging their roles and
responsibilities to protect and enhance shareholders value and in improving the fi nancial performance of the Group. The Board subscribes to the Principles and Best Practices as set out in the Malaysian Code of Corporate Governance as a key factor towards achieving an optimal governance framework and process in managing the Group’s business and operational activities.

The Board is pleased to set below the Statement on how the Group has applied the Principles of the Malaysian Code of Corporate Governance, and the extent of compliance with the Principles and Best Practices advocated there-in.

The Role of the Board in Corporate Governance

The Board is collectively responsible for striving to promote the success of the Group by directing and supervising its affairs. Additionally, the Board's role is to support the entrepreneurial leadership of the Group within a framework of prudent and effective controls which enable risks to be assessed and managed. It also sets the Group's strategic aims, ensures that the necessary financial and human resources are in place for the Group to meet its objectives and reviews management performance. The Board also establishes the Group's values and standards and ensures that its obligations to its shareholders and other stakeholders are understood and met.

The Audit Committee

SCICOM’s Audit Committee consists of the following Directors.

Chairman of the Audit Committee
Dato’ Mohd Salleh bin Hj Harun
Independent Non-Executive Director

Members of the Audit Committee
Nikolai Dobberstein
Independent Non-Executive Director

Krishnan A/L C K Menon
Non-Independent Non-Executive Director

Loh Lee Soon
Independent Non-Executive Director

The Audit Committee, comprising three (3) Independent Non-Executive Directors and a Non-Independent Non-Executive Director, is responsible for the recommendations to the Board regarding the selection of the external auditors, reviewing the results and scope of the audit and other services provided by the Company's external auditors. In addition, the Audit Committee reviews and evaluates the Company's internal audit and control functions. The Audit Committee is also responsible for the assessment of financial risk and matters relating to related party transactions and conflicts of interest. The Audit Committee may obtain advice from independent parties and other professionals in the performance of its duties.