4. Arrangements to enable directors to acquire benefits by means of the acquisition of shares and debentures Neither at the end of the reporting year nor at any time during the reporting year did there subsist arrangements to which the Company is a party, being arrangements whose objects are, or one of whose objects is, to enable directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. 5. Options During the reporting year, no option to take up unissued shares of the Company or other body corporate in the Group was granted. During the reporting year, there were no shares issued by virtue of the exercise of an option to take up unissued shares. At the end of the reporting year, there were no unissued shares under option. 6. Report of Audit Committee The members of the Audit Committee at the date of this report are as follows: Mr Sim Guan Seng (Chairman of Audit Committee, Independent and Non-Executive Director) Mr Yeo Wee Kiong (Independent and Non-Executive Chairman) Mr Daniel Loh Hong Chye (Independent and Non-Executive Director) The Audit Committee carried out its function in accordance with section 201B(5) of the Companies Act 1967. The Audit Committee’s main functions are to: • review the significant financial reporting issues and judgements so as to ensure the integrity of the financial statements of the Company and of the Group and any announcements relating to the Group’s financial performance; • review and report to the board annually the adequacy and effectiveness of the Group’s internal controls, including financial, operational, compliance and information technology controls; • review effectiveness of the Company’s internal audit function; • review the scope and results of the external audit and the independence and objectivity of the external auditors; • make recommendations to the board on the proposals to the shareholders on the appointment, re-appointment and removal of the external auditors, and approve the remuneration and the terms of engagement of the external auditors; • review with the internal auditor the scope and results of the internal audit procedures (including those relating to financial, operational and compliance controls and risk management) and the assistance given by the management to the internal auditor; • review the Group’s results announcements, consolidated financial statements and other documents accompanying the same before they are recommended to the board for approval; and • review and, where appropriate, approve interested person transactions (as defined in Chapter 9 of the Singapore Exchange Securities Trading Limited’s Listing Manual). MEGACHEM LIMITED ANNUAL REPORT 2025 113 STATEMENT BY DIRECTORS
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