Lahore: Kohinoor Spinning Mills Limited (KOSM) has successfully upheld its commitment to shareholders by ensuring diligent management and robust governance throughout 2024, according to a review report by the company's chairman. The report details the Board's various strategic and operational accomplishments aimed at enhancing the company’s performance and compliance with regulatory standards.

In the document signed by Chairman Khawaja Muhammad Jahangir, dated October 7, 2024, it's reported that the Board has actively participated in and approved key strategic planning and risk management initiatives. This includes overseeing significant transactions and ensuring these are in line with both the Companies Act 2017 and the Listed Companies (Code of Corporate Governance) Regulations, 2019. According to information available from the Pakistan Stock Exchange (PSX), such proactive governance is crucial for maintaining investor confidence and compliance in a competitive market.

The Board has also been commended for implementing an effective internal control system that undergoes regular self-assessments and internal audits. Their efforts extend to the preparation and approval of the director's reports and the annual financial statements, ensuring these documents comply with applicable laws and regulations.

Moreover, the leadership has been instrumental in key executive appointments and has maintained a transparent information-sharing process among the Board members, facilitating timely updates on company developments. This thorough oversight and strategic direction provided by the Board have reportedly not only met but exceeded the company's set objectives for the year, contributing to its operational success and compliance.

The review underscores the Board's commitment to strong corporate governance and strategic oversight, suggesting that KOSM is well-positioned to continue its growth trajectory and uphold its responsibilities to shareholders and regulatory bodies.