CORPORATE GOVERNANCE OVERVIEW STATEMENT During FY2021, the RC had reviewed the remuneration of the Directors taken into consideration the respective Director’s experience, level of responsibility, contribution and commitment to the Company, the performance of the Group, the compensation levels for comparable positions among other similar Malaysian public listed companies and market condition. Based on the result of its review, the RC made recommendation to the Board on the remuneration package for the Directors for financial year ending 31 December 2022. The Board concurred with the recommendation of the RC, and that shareholders’ approval be sought at the Thirteenth AGM on the payment of Directors’ fees and benefits up to an amount of RM480,000 to the Independent Directors for the period commencing from the date of the forthcoming Thirteenth AGM until the next AGM of the Company. The Group’s top five senior management are the five Executive Directors of the Company. Their respective remuneration is disclosed above. Board Evaluation and Performance The NC evaluates the effectiveness and performance of the Board as a whole, the Board Committees and the individual Directors on an annual basis. The process is internally facilitated and conducted through the following questionnaires covering a variety of assessment criteria:- (a) Independent Directors’ Self-Assessment Checklist; (b) Directors’/Key Officers’ Evaluation Form; (c) Board and Board Committee Evaluation Form; and (d) Board Skills Matrix Form. The criteria on which assessment is made is developed, maintained and reviewed by the NC. The assessment criteria include the mix of skills, experience, competency, time commitment, character, integrity, independence, ability to constructively challenge and contribute to the development of strategy, diversity and other qualities required to meet the needs of the Group and to comply with the provisions of the MMLR. The NC, upon discussion of the results, will present the findings to the Board. Based on the evaluation conducted in FY2021, the NC found that the Board as a whole, the Board Committees and the individual Directors are effective and possess the criteria required to discharge their duties professionally and effectively, and uphold good governance standards in their conduct. The NC presented their findings to the Board, and the Board concurred with the findings of the NC. Directors’ Training All Directors of the Company have attended the Mandatory Accreditation Programme as required by the Bursa Securities. The Directors continue to update their knowledge and enhance their skills through appropriate continuing education programmes and life-long learning. This will enable Directors to effectively discharge duties and sustain active participation in the Board deliberations. The Board is notified of training programmes or workshops conducted by Bursa Securities for its consideration of participation and the Board receives updates of the MMLR from the Company Secretary from time to time. The external auditors also briefed the Directors on any changes to the Malaysian Financial Reporting Standards that would affect the Group’s financial statements during the financial year under review. All the current Directors after assessing their own training needs, had attended the following training/seminar/conference:- Director Training/Seminar/Conference Date Sim Tian Liang • Transfer Pricing Documentation Flowchart and Transfer Pricing Documentation Self-Test 29 October 2021 Chin Lian Hing • Transfer Pricing Documentation Flowchart and Transfer Pricing Documentation Self-Test 29 October 2021 Yam Tai Fong • Get Your Fundamental Right with Transfer Pricing & Strategic Cash Flow Management 21 October 2021 Pang Khang Hau • Transfer Pricing Documentation Flowchart and Transfer Pricing Documentation Self-Test 29 October 2021 Pang Tin @ Pang Yon Tin • Transfer Pricing Documentation Flowchart and Transfer Pricing Documentation Self-Test 29 October 2021 Datuk Woon See Chin • Five lessons emerging from Malaysia’s First National Conference on Business and Human Rights 2021 4 October 2021 K imlun Corporat ion Berhad Regi s t rat ion No. 200901023978 (867077-X) 43
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