The Board strives to ensure that the Company’s corporate governance practices conform to the best practice recommendations as laid down in the Malaysian Code on Corporate Governance 2012 (“the Code”). The Company’s corporate governance practices also conform to the requirements of Bursa Malaysia Securities Berhad’s (“Bursa Securities”) Main Market Listing Requirements (“MMLR”). It is also guided by Bursa Securities’ Corporate Governance Guide (2nd Edition). CORPORATE GOVERNANCE FRAMEWORK The Company’s corporate governance framework is reviewed by the Board from time to time to ensure its relevance and ability to support operational requirements. The corporate governance structure of the Company, as shown below, illustrates how the MISC Corporate Governance Framework is structured in terms of responsibility and accountability. Each layer of responsibility, i.e., Board of Directors, Board Committees, Management Committee, Business Units and Service Units, is distinctly different but compliments each other in attaining the objectives of the Group. The Board of Directors (“the Board”), Management and employees of MISC Berhad (“MISC” or “the Company”) remain resolute and committed in upholding a high standard of corporate governance practices throughout the MISC Berhad Group (“the Group”).The Company adopts a corporate governance framework which is premised on the belief that sound corporate governance practices are fundamental towards winning investors’ confidence. They are prerequisites to achievement of the Company’s ultimate objectives of enhancing long-term shareholders’ value and protecting shareholders’ interest. STAKEHOLDERS BOARD OF DIRECTORS OF MISC BERHAD PRESIDENT/CEO MANAGEMENT COMMITTEE LNG BUSINESS BOARD AUDIT COMMITTEE CHEMICAL & TANKTERMINAL BUSINESSES OFFSHORE BUSINESS SUPPORT SERVICES NOMINATION & REMUNERATION COMMITTEE MISC BERHAD - Annual Report 2014 p 114 STATEMENT ON CORPORATE GOVERNANCE
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