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ENRICHING PERFORMANCE AND COMMITMENTS ENRICHING ACCOUNTABILITY AND INTEGRITY ENRICHING RESILIENCE AND SUSTAINABLE GROWTH OTHER INFORMATION

(iv) Four other persons from the public or private sector BOARD COMMIttEES
with experience and expertise in business, investment,
banking and finance (Section 7(2)(e) of KWAP Act). In order to assist the Board in discharging its duties, the
Board has established various committees to oversee
A brief profile of each Investment Panel member is specific matters relating to the operations of KWAP, namely
presented on page 96 to 101 of this Integrated Report. the Board Audit Committee, Board Integrity Committee,
Board Risk and Compliance Committee, Board Nomination
Primary Duties and Responsibilities of the Investment and Remuneration Committee, Board Procurement
Panel Committee and Board Disciplinary Committee. The Board
Committees are granted the authorities to act on the
The Investment Panel is governed by Section 7(1) of the Board’s behalf in accordance with their respective Terms of
Act and is primarily responsible to approve, amongst Reference which are provided in the Board and Investment
other things, KWAP’s strategic direction in relation to all Panel Charter.
investment matters which includes investment policy,
guidelines, asset allocation strategy as well as the directions At the Board Committees’ meetings, items are
or decisions for all investment proposals. In discharging its discussed and, as appropriate, endorsed, approved or
function, the Investment Panel, where required shall report recommended to the Board for approval. Following the
to the Board and shall act in accordance with the general Board Committees’ meetings, the Chairman of each Board
policy that may be issued by the Board and approved by Committee provides the Board with a summary of the main
the Minister of Finance. decisions and discussion points, and the minutes of the
Board Committees’ meetings as well as Investment Panel
Investment Panel Meetings
meetings are presented to the Board for notation hence,
During the financial year 2023, 12 Investment Panel the non-committee members are kept up-to-date with the
meetings and three Special Investment Panel meetings work undertaken by each Board Committee.
were held. A summary of attendance of the Investment Details of activities of the Board Committees during the
Panel members is set out below:
financial year 2023 are outlined below:
Investment Panel Meetings’ Attendance: BOARD AuDIt COMMIttEE

Investment Panel members in office The Board Audit Committee (BAC) was established to
during the financial year ended Attendance provide oversight on KWAP group’s financial reporting
31 December 2023 process and internal controls framework and to assist
the Board in assessing the adequacy of controls in the
Dato’ Mohamad Nasir bin Ab Latif 15/15 processes and procedures undertaken are in accordance
Chairman with applicable laws, rules and regulations directives and
Encik Mohammad Reezal bin Ahmad 14/15 guidelines established by the relevant regulatory bodies.
Dato’ Noorazman bin Abd Aziz 15/15 Membership

Dato’ Mohamed Ross bin Mohd Din 11/15 Currently, BAC comprises five Board members, namely a
Chairman and four members who have been appointed by
Encik Mohammed Nazri bin Omar 7/15 the Board:

Encik Anthony Lim Choon Eng 14/15 1. Dato’ Azmi bin Abdullah – Chairman
2. Dato’ Maznah binti Abdul Jalil
Datuk Hajah Nik Amlizan Mohamed 10/15 (Appointed on 31 March 2023)

3. Datuk Ahmad Terrirudin bin Mohd Salleh
(Appointed on 30 November 2023)
4. Datuk Dr. Shahrazat binti Haji Ahmad
(Appointed on 30 November 2023)

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