MISC Annual Report 2017

133 Corporate Governance E. Directors’ Remuneration Directors’ Remuneration The Company aims to set remuneration for Directors at levels which are sufficient to attract and retain persons of calibre to guide the Group, taking into consideration the workload and responsibilities involved. The level of remuneration for Non-Executive Directors reflects the level of responsibilities undertaken and contributions made by them. All Non-Executive Directors, excluding PETRONAS nominees, are paid Directors’ fees and meetings attendance allowance which are subsequently approved by the shareholders at the Annual General Meeting (AGM). All payments of Directors’ fees and meetings attendance allowance for executives of PETRONAS with the positions of Vice President and above, representing PETRONAS on the boards of PETRONAS’ subsidiaries and associated companies are treated as management fees and are paid directly to PETRONAS. The remuneration package for the Executive Director, i.e., the President/Group CEO, comprises fixed and performance-linked elements based on KPIs as outlined in the Balanced Scorecard. As an Executive Director, the President/Group CEO is not entitled to Directors’ fees or any meeting attendance allowance. Details of Directors' remuneration for the financial year ended 31 December 2017 in aggragate are as follows :- Directors Directors’ Fees Total (RM) Range of Remuneration in RM50,000 band (RM) By MISC (RM) By Subsidiaries (RM) Non-Executive Director Dato’ Ab. Halim Mohyiddin 144,000 - 144,000 100,000 to 150,000 Datuk Manharlal Ratilal Not applicable Not applicable Not applicable Not applicable Datuk Nasarudin Md Idris 116,000 416,449 532,449 500,000 to 550,000 Dato’ Sekhar Krishnan 117,000 - 117,000 100,000 to 150,000 Lim Beng Choon 111,000 - 111,000 100,000 to 150,000 Liza Mustapha (Appointed on 1 July 2017) 47,000 - 47,000 45,000 – 50,000 Mohd Yusri Mohamed Yusof (Appointed on 7 December 2017) Not applicable Not applicable Not applicable Not applicable Dato’ Halipah Esa (Retired on 20 April 2017) 50,000 228,000 278,000 250,000 to 300,000 Dato’ Kalsom Abd. Rahman (Retired on 20 April 2017) 45,000 - 45,000 40,000 – 45,000 Mohamed Firouz Asnan (Resigned on 1 December 2017) Not applicable Not applicable Not applicable Not applicable Executive Director Yee Yang Chien Not applicable Not applicable Not applicable Not applicable Total 630,000 644,449 1,274,449 - CORPORATE GOVERNANCE OVERVIEW STATEMENT