The Board of Directors (“Board”) of Boustead Holdings Berhad (“Boustead Holdings”) has approved the establishment of the Risk Committee to assist the Board in the effective discharging of its responsibilities to manage such risks.

The scope of these Terms of Reference (“TOR”) serves as guidance to the Risk Committee members pertaining to oversight of Risk within the Group.

For the purpose of better defining the role and responsibility of the Risk Committee, words and expressions used in this TOR will have the following meanings:

• “Risk” is defined as an effect of uncertainty on the Group’s objectives. The effect can be positive, negative or both, and can address, create or result in opportunities and threats;
• “Risk Management” means coordinated activities to direct and control the Group with regard to risk; and
• “Group” means Boustead Holdings and its subsidiaries or any one or more of them, as the contexts permits.