Audit Committee
A listed corporation must appoint an audit committee from amongst its directors which fulfills the following requirements:
- (a) the audit committee must be composed of no fewer than 3 members;
- (b) All the audit committee members must be non-executive directors, with a majority of them being independent directors;and(c) At least one member of the audit committee
- (i) Must be a member of Malaysia Institute of Accountants;or
- (ii) If he is not a member of Malaysia Institute of Accountants, he must have at least 3 years working experience;and
- (aa) He must have passed the examinations specified in Part I of the First Schedule of the Accountants Act 1967;or
- (bb) He must be a member of one of the associations of accountants specified in Part II of the First Schedule of the Accountants Act 1967;
- (iii) Fulfills such other requirements as prescribed or approved by the Exchange.
Nomination Committee
As per the ACE Market Listing Requirement, A listed corporation must establish a nominating committee which comprises exclusively of non-executive directors, a majority of whom must be independent.
Remuneration Committee
The Board of Directors shall elect the Remuneration Committee members from amongst themselves, composed mainly of Non-Executive Directors.