The Board of Directors (“the Board”), Management and employees of MISC Berhad (“MISC” or “the Company”) continue to improve the standard of corporate governance practices throughout the MISC Berhad Group (“the Group”). MISC believes that sound corporate governance practices are fundamental towards winning investors’ confidence and are prerequisites to achieving the Company’s ultimate objectives of enhancing long-term shareholders’ value and protecting shareholders’ interest. 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 Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) besides being guided by the Corporate Governance Guide (2nd Edition) as issued by Bursa Securities. 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. PRESIDENT/group CEO STAKEHOLDERS LNG BUSINESS AUDIT COMMITTEE PETROLEUM & CHEMICAL BUSINESSES OFFSHORE BUSINESS MARITIME EDUCATION & TRAINING SUPPORT SERVICES NOMINATION & REMUNERATION COMMITTEE MANAGEMENT COMMITTEE BOARD OF DIRECTORS OF MISC BERHAD Corporate Governance 123 STATEMENT ON CORPORATE GOVERNANCE
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