Terms of Reference of The Board


Member Designation
Ong Seng Pheow (Chairman) Senior Independent Non-executive Director
Dato’ Ahmad Johari Bin Tun Abdul Razak Independent Non-executive Director
Ho Sing Independent Non-executive Director
Eddie Chan Yean Hoe Independent Non-executive Director


The Terms of Reference for the Audit Committee set out by the Board of Directors are as follows:


The Audit Committee shall be appointed by the Board from among their members and shall consist of not less than three members. All the Audit Committee members must be non-executive directors with a majority of them being independent directors.

At least one member of the Committee

  1. must be a member of the Malaysian Institute of Accountants (MIA); or
  2. if he/she is not a member of the MIA, he must have at least 3 years’ working experience and:
    1. he/she must have passed the examinations specified in Part I of the 1st Schedule of the Accountants Act 1967; or
    2. he/she must have passed the examinations specified in Part II of the 1st Schedule of the Accountants Act 1967; or
  3. he/she must fulfill such other requirements as prescribed or approved by the Exchange.

No alternate director shall be appointed as a member of the Committee.

The Audit Committee shall elect a Chairman from among their members who shall be an Independent Director.

The terms of office and performance of each member shall be reviewed at least once every three years by the Board.


The purposes of the Committee are as follows:

  1. To provide assistance to the Board in fulfilling its fiduciary responsibilities relating to corporate accounting and reporting practices for the Company.
  2. To maintain, through regularly scheduled meeting, a direct line of communication between the Board and the External Auditors as well as Internal Auditors.
  3. To avail to the External and Internal Auditors a private and confidential audience at any time they desire and to request such audience through the Chairman of the Committee, with or without the prior knowledge of Management.
  4. To act upon the Board’s request to investigate and report on any issue of concern with regard to the management of the Company.
  5. To ensure compliance with any such changes/ amendments/ updates/ insertions of the Listing Requirements of Bursa and other applicable laws and regulations, arising thereof from time to time.


The Secretary of the Committee shall be the Company Secretary.


Meetings shall be held not less than 4 times a year and as when required during each financial year.

The External Auditors may request a meeting if they deem necessary.

The Finance Director, the Financial Controller, Chief of Finance Department/Accounts/Department/Internal Audit, and a representative of the External Auditors shall normally attend the meetings. Other Board members may attend the meetings upon invitation of the Committee.

The quorum for a meeting shall be 2 members, both of whom must be Independent Directors.

In the absence of the Chairman of the Committee, members present shall elect a Chairman for the meeting from amongst the Independent Director.

A member of the Committee shall be deemed to be present at a meeting of the Committee if he participates by instantaneous telecommunication device and all members of the Committee participating in the meeting of the Committee are able to hear each other and recognize each other’s voice, and for this purpose, participation constitutes prima facie proof of recognition. For the purposes of recording attendance, the Chairman or Secretary of the Committee shall mark on the attendance sheet that the member of the Committee was present and participating by instantaneous telecommunication device.

A member of the Committee may not leave the meeting by disconnecting his instantaneous telecommunication device unless he has previously obtained the express consent of the Chairman of the meeting and the member will be conclusively presumed to have been present and to have formed part of the quorum at all times during the committee meeting by instantaneous telecommunication device unless he/she has previously obtained the express consent of the Chairman of the meeting to leave the meeting.

Minutes of the proceedings at a meeting of the Committee by instantaneous telecommunication device will be sufficient evidence of such proceedings and of the observance of all necessary formalities if certified as correct minutes by the Chairman of the committee meeting.

Instantaneous telecommunication device means any telecommunication conferencing device with or without visual capacity.

A resolution in writing signed and approved by a majority of the Committee and who are sufficient to form a quorum shall be as valid and effective as if had been passed at a meeting of the Committee duly called and constituted.


The minutes of each meeting shall be kept and distributed to each member. All minutes of meetings shall be circulated to every member of the Board. The Chairman of the Committee shall report on each meeting to the Board.


The Committee shall, in accordance with a procedure to be determined by the Board and at the cost of the Company:

  1. have authority to investigate any matters of the Company and its subsidiaries, within its terms of reference, where it deems necessary, investigate any matter referred to it or that it has come across in respect of a transaction that raises questions of management integrity, possible conflict of interest, or abuse by a significant or controlling shareholder;
  2. have resources which are required to perform its duties;
  3. have full and unrestricted access to any information pertaining to the Company;
    1. have direct communication channels with the External Auditors;
    2. have direct authority over the internal audit function which is independent from management and operations;
  4. be able to obtain and seek outside legal or other independent professional advice and to secure the attendance of external experts with relevant experience and expertise if it considers necessary; and
  5. be able to convene meetings with the External Auditors, the Internal Auditors or both, excluding the attendance of other directors and employees of the Company.


The functions and duties of the Committee are as follows:

    1. To consider and recommend the appointment of the External Auditors, the audit fee, and any questions of resignation or dismissal, and inquire into the staffing and competence of the External Auditors in performing their work and assistance given by the Company’s officers to the External Auditors.
    2. Where the External Auditors are removed from office or give notice to the Company of their desire to resign as External Auditors, the Committee shall ensure that the Company immediately notify Bursa Malaysia Securities Berhad (“Bursa”) and forward to the Exchange a copy of any written representations or written explanations of the resignations made by the External Auditors at the same time as copies of such representations or explanations are submitted to the Registrar of Companies pursuant to section 172A of the Companies Act 1965.
    1. To discuss with the External Auditors before the audit commences the nature scope and any significant problems that may be foreseen in the audit, ensure adequate tests to verify the accounts and procedures of the Company and ensure co-ordinance where more than one audit firm is involved; and
    2. To ensure and confirm that the management has placed no restriction on the scope of the audit.
  1. To review the quarterly announcements to Bursa and the annual financial statements before submission to the Board, focusing particularly on:
    • Any changes in accounting policies and practice;
    • Major judgmental areas;
    • Significant adjustments resulting from the audit;
    • Any significant transactions which are not a normal part of the Group’s business;
    • The going concern assumptions;
    • Compliance with the accounting standards;
    • Compliance with stock exchange and legal requirements;
    • Assess the quality and effectiveness of the internal control system and the efficiency of the Company operations;
    • The quality and effectiveness of the entire accounting and internal control system; and
    • The adequacy of the disclosure of information essential to a fair and full presentation of the financial affairs of the Group.
  2. To discuss problems and reservations arising from the interim and final audits, and any matters the External Auditors may wish to discuss in the absence of the management where necessary.
  3. For the internal audit function, to:
    • Consider and recommend the appointment or termination of the Internal Auditors, the fee and inquire into the staffing and competence of the Internal Auditors in performing their work (if the internal audit function is outsourced);
    • Review the adequacy of the competency of the internal audit function including the scope and resources and ensuring that the Internal Auditors have the necessary authority to carry out their work;
    • Review internal audit programme;
    • Ensure co-ordination of external audit with internal audit;
    • Consider major findings of internal audit investigations and management’s response, and ensure that appropriate actions are taken on the recommendations of the internal audit function;
  4. To review the External Auditors’ management letter and management’s response;
  5. To consider:
    • Any related party transactions that may arise within the Company or the Group and to ensure that Directors report such transactions annually to shareholders via the annual report, and
    • In respect of the recurrent related party transactions of a revenue or trading nature which are subject of a shareholders’ mandate, prescribed guidelines and review procedures to ascertain that transactions are in compliance with the terms of the shareholders’ mandate.
  6. To report to Bursa on matters reported by it to the Board that has not been satisfactorily resolved resulting in a breach of the Listing Requirements of Bursa.
  7. To consider other topics, as may be defined and directed by the Board from time to time.

Explore Our Business

Property Taman Gaya G Living
Property Taman Daiman Jaya Kota Tinggi
Property Taman Perindustrian Murni Senai
Menara Landmark Office Tower Hotel Medical Suites
Daiman 18 Golf Club Johor Bahru
Daiman Johor Jaya Sports Complex
Daiman Sri Skudai Sports Centre
Daiman Bowl Johor Jaya

Latest News


07 May 2018

大马发展集团 (Daiman Group) 于4月28日,在旗下发展的哥打丁宜大马花园 (Taman Daiman Jaya) 崭新示范单位举行“携手造绿”企业社会责任活动,以及Intan系列第2期双层排楼推介礼,成功吸引众多各界人士莅临。

Read More

Terms & Conditions

Welcome to the website of the Daiman Group of Companies (‘Daiman Group’). By viewing this website, the viewers are agreeing to comply with and to be bound by the terms and conditions as set out below.

Intellectual Property

This website belongs to the Daiman Group of Companies . The copyright to the contents of this website is owned by the Daiman Group. This website is intended for personal use, quick reference, illustration, and information purposes only and may not be copied, re-distributed, or published in any manner without the written permission of the Daiman Group. Any unauthorized use of any part of this website is strictly prohibited.

The trademarks, logos, characters and service marks (collectively called “Trademarks”) displayed on this website belong to the Daiman Group. Nothing contained on this website should be construed as granting any licence or right to use any “Trademark” displayed on this website. Any use or misuse of the “Trademarks” displayed on this website, or any other content on this website, except as provided in these Terms & Conditions, is strictly prohibited.

Privacy Policy

The Daiman Group of Companies respect the privacy rights of their on-line visitors and recognizes the importance of protecting the information collected. The companies will not sell or share any personal information pertaining to their customers obtained via the website by telephone, mail/e-mail or in any other manner.

Viewers’ personal information collected or obtained may include name, e-mail address, phone number, home address, date of birth, occupation, etc. may be used by the Daiman Group of companies for their own internal marketing and demographics studies to enable them to constantly improve their site to meet viewers’ and customers’ needs. The data or information collected on-line may be used to contact viewers periodically by post, telephone, facsimile, e-mails or short message service (SMS) to update viewers on Daiman Group’s projects, new product launches or upcoming events and promotions.

Daiman Group takes the necessary precautions to safeguard viewers’ personal data against loss, theft, misuse, alternation, or destruction. However, given the nature of the Internet, the Daiman Group cannot guarantee that there is “perfect security” but will make best possible efforts to ensure that the privacy of users is safe guarded.


The viewers shall indemnify and keep the Daiman Group indemnified against all claims, damages, actions, and proceedings made or brought against the Daiman Group arising from their use of this website and/or any breach of terms in relation thereto by the viewers.


This site is owned and operated by Daiman Group with the intention to provide information about the Group to the general public and stakeholders. Daiman Group does not provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. The users acknowledge that such information and materials may contain inaccuracies or errors and the Daiman Group expressly exclude liabilities for any such inaccuracies or errors to the fullest extent permitted by law.

Daiman Group reserves the rights, in its sole discretion, to change or discontinue any aspect, feature, content, promotion of its products, or to correct any errors or omissions in any portion of this site any time without notice.