Policy on Non-Audit Services Provided by External Auditor

In general, the external auditor is refrained from engaging in non-assurance services required by the Group except for limited tax-related services or specifically approved items. This is to support and safeguard the external auditor’s objectivity and independence by eliminating any pressure on the external auditor to give way to the management on audit matters in order not to jeopardise their other services, and removing any incentive for them to accept audit engagements at unreasonably low rates in order to obtain more remunerative non-audit work.

The Audit Committee is mandated to monitor the independence of the external auditor to ensure true objectivity in the financial statements, to review its statutory audit scope and non-audit services, and to approve its fees. Fees paid to the external auditor for audit and non-audit services rendered are fully disclosed in the annual reports.