Page 124 - MSM_AR2020

CHAIRMAN’S DELIVERING MSM MANAGEMENT DISCUSSION GROUP FINANCIAL
STATEMENT VALUE OVERVIEW & ANALYSIS REPORT

STATEMENT ON

DIRECTORS’ RESPONSIbILITIES

The Companies Act 2016 requires the Directors to prepare financial statements (which include the consolidated statements
of financial position and the consolidated statements of comprehensive income of the Group) for each financial year in
accordance with Malaysian Accounting Standards Board (MASB) approved accounting standards in Malaysia for entities
other than private entities and the provisions of the Companies Act 2016 and the Main Market Listing Requirements of
Bursa Malaysia Securities Berhad (Bursa Malaysia), and to lay these before the Company at its Annual General Meeting.
Incorporated on pages 133 to 227 of this Annual Report, are the financial statements of the Company and the Group for
the financial year ended 31 December 2020. The Companies Act 2016 placed responsibility on the Directors to ensure
that the consolidated statements of financial position provide a true and fair view of the state of affairs of the Group as at
31 December 2020 and the consolidated statement of comprehensive income provides a true and fair view of the results of the
122 Group for the financial year ended 31 December 2020.

In undertaking the responsibility placed upon them by law, the Directors have relied upon the Group’s system of internal control
MSM MALAYSIA HOLDINGS BERHAD Annual Report 2020
to provide them with reasonable grounds to believe that the Group’s accounting records, as well as other relevant records,
have been maintained by the Group in a manner that enables them to sufficiently explain the transactions and financial position
of the Group. This also enables the Directors to ensure that a true and fair consolidated statement of financial position and
statement of comprehensive income and documents required by the Companies Act 2016 to be attached are prepared for the
financial year to which these financial statements relate.
The Companies Act 2016 also requires the Directors to cause the Company to keep such accounting and other records in such
manner that enables the Directors to sufficiently explain the transactions and financial position of the Company and the Group,
and to prepare a true and fair statement of comprehensive income and statement of financial position and any documents
required to be attached, as well as to enable such accounting records to be audited conveniently and properly.

The Directors also have general responsibilities for taking such steps that are reasonably available to them to safeguard
the assets of the Group and of the Company and to prevent and detect fraud and other irregularities.