My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 91 CORPORATE GOVERNANCE OVERVIEW INTRODUCTION The Board recognises the importance of corporate governance and is committed to ensure that the principles and best practices in corporate governance as set out in the MCCG are observed and practised throughout the Group so that the affairs of the Group are conducted with integrity and professionalism with the objective of safeguarding shareholders’ investment and ultimately enhancing shareholders’ value. This statement outlines the following principles and recommendations which the Group has comprehended and BQQMJFE XJUI UIF CFTU QSBDUJDFT PVUMJOFE JO UIF .$$( z #PBSE -FBEFSTIJQ BOE &GGFDUJWFOFTT z Effective Audit and Risk Management z Integrity in Corporate Reporting and Meaningful Relationship with Stakeholders 5IJT TUBUFNFOU JT QSFQBSFE JO DPNQMJBODF XJUI ..-3 PG #VSTB 4FDVSJUJFT BOE JU JT NFBOU UP CF SFBE UPHFUIFS XJUI UIF Corporate Governance Statement and Corporate Governance Report. The Corporate Governance Report provides details on how the Group has applied each practices as set out in the MCCG for the FY2020, a copy of which is available on the Group’s website: www.myeg.com.my/investor_relations (under the “Reports & Presentations” tab) as well as via an announcement on Bursa Securities website. The Board will continue to take measures to improve compliance with the principles and recommended best practices in the ensuing years. PRINCIPAL A: BOARD LEADERSHIP AND EFFECTIVENESS I. BOARD RESPONSIBILITIES The Board has considered and discussed a wide range of matters during the FY2020, including strategic decisions and the reviewing of risk associated matters in the business. The Board is aware that decisions made for the business of the Group would affect a broad range of our stakeholders. While the Board sought to ensure that the decisions were taken in a way that was fair and consistent with the Group’s values, the Board also SFDPHOJTFE UIF JNQPSUBODF PG CBMBODJOH UIFTF XJUI UIF OFFE UP TVQQPSU UIF MPOH UFSN GVUVSF PG UIF CVTJOFTT In order to ensure orderly and effective discharge of the above functions and responsibilities of the Board, the Board has established various committees where specific powers of the Board are delegated to the relevant CPBSE DPNNJUUFFT BT EFQJDUFE CFMPX BOARD OF DIRECTORS Nomination Committee Remuneration Committee Risk Management Committee Audit Committee Responsibilities Responsibilities Responsibilities Responsibilities r /PNJOBUJPO PG OFX Directors r "OOVBM BTTFTTNFOU of the Board, the board committees and the contribution of each individual Director r 3FDPNNFOEJOH to the Board the remuneration of Executive Directors BOE /PO &YFDVUJWF Directors r .POJUPSJOH PG SJTL management and internal control system r 0WFSTJHIU PO UIF Group’s financial reporting r 3FWJFX RVBSUFSMZ financial results, unaudited and audited financial statements GOVERNANCE