Fraser & Neave Holdings Bhd Annual Report 2021

The Directors, have through the Statement by Directors on page 243 of the Annual Report given their opinion that the financial statements have been drawn up in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Act. In preparing these financial statements, the Directors ensured that: – appropriate accounting policies have been adopted and applied consistently; – the going concern basis used in preparation of the financial statements are appropriate; and – where judgements and estimates are made, they are reasonable and prudent. The Directors are also responsible for ensuring that proper accounting and other records are kept in accordance with the provisions of the Act to su&ciently explain the transactions and financial position of the Group and of the Company. The Directors also have the responsibility to ensure that a system of internal control is in place to ensure that the assets of the Group are safeguarded against loss from unauthorised use or disposition and that transactions are properly authorised and recorded as necessary to enable the preparation of financial statements that are true and fair and are free from material misstatement. This Statement is approved by the Board of Directors on 3 November 2021. The Directors of the Company are required by the Companies Act 2016 in Malaysia (“the Act”) to ensure that the financial statements prepared for each financial year give a true and fair view of the financial position and the financial performance of the Group and of the Company. Pursuant to paragraph 15.26 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors is required to issue a statement explaining its responsibility for preparing the annual audited financial statements. 144 Statement on Directors’ Responsibility