MSM Malaysia Holdings Berhad Annual Report 2020

CORPORATE GOVERNANCE OVERVIEW STATEMENT The Board of MSM Malaysia Holdings Berhad (“MSM”or “Company”) is pleased to present the Corporate Governance Overview Statement (“Statement or CGOS”) highlighting MSM’s compliance with the principles and best practices recommended under the Malaysian Code on Corporate Governance 2017 during the financial year ended 31 December 2020 (“FYE 2020”). This Statement is also prepared in compliance with Bursa Malaysia Securities Berhad Main Market Listing Requirements and is to be read together with the Corporate Governance Report FYE 2020 (“CG Report 2020”) of MSM. Good governance principles and practices are adhered to and are embedded throughout the Company. Our Board is committed in ensuring effective leadership and promotes a culture of uncompromising ethical standards based on honesty and integrity. MSM’s Corporate Governance Framework complies with regulatory requirements and consistency with best practices and guidelines: • Companies Act, 2016 • Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) • Malaysian Code of Corporate Governance 2017 (“MCCG 2017”) published by the Securities Commission • Corporate Governance Guide – 3 rd Edition 2017 (“3 rd CG Guide”) published by Bursa Securities MSM Governance framework is depicted below: REGISTERED COMPANY • Companies Commission of Malaysia • Companies Act 2016 PUBLIC LISTED COMPANY • Malaysian Code on Corporate Governance 2017 • Bursa Malaysia Securities Berhad • Main Market Listing Requirements • Securities Commission REQUIREMENT AND BEST PRACTICES BOARD COMMITTEE • Audit, Governance and Risk Committee • Nomination and Remuneration Committee • Investment and Tender Committee GROUP CHIEF EXECUTIVE OFFICER • CORPORATE CENTRE • OPERATIONS • SUPPORTING FUNCTIONS MAIN BOARD Shareholders Stakeholders MSM Governance Framework C o m p a n y P o l i c i e s C o m p a n y P o l i c i e s S t a n d a r d O p e r a t i n g P r o c e d u r e S t a n d a r d O p e r a t i n g P r o c e d u r e Effective Audit & Risk Management Governance & Integrity Integrity in Corporate Reporting & Meaningful Leadership with Stakeholders Board Leadership & Effectiveness P r o c e s s C o n t r o l M e c h a n i s m MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 75 SUSTAINABILITY REPORT EFFECTIVE LEADERSHIP CORPORATE GOVERNANCE FINANCIAL STATEMENTS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING