My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 92 PRINCIPAL A: BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. BOARD RESPONSIBILITIES (CONT’D) The Board has a formal schedule of matters reserved for deliberation as set out below, to ensure good HPWFSOBODF JT JO QMBDF GPS UIF (SPVQ a) Conflict of interest issues in relation to a substantial shareholder or a Director including approving related party transactions b) Material acquisition and disposal of assets not in the ordinary course of business including significant CAPEX c) Strategic investments, mergers and acquisitions and corporate exercises E -JNJUT PG BVUIPSJUZ e) Treasury policies f) Risk management policies g) Key human resource issues h) Business plans II. BOARD COMPOSITION The Board recognises the benefits of having a diverse Board to ensure that the mix and profiles of the Board members in terms of age, ethnicity and gender provide the necessary range of perspectives, experience and expertise required to achieve effective stewardship and management. The Board believes that a truly diverse and inclusive Board will leverage on different thoughts, perspectives, cultural and geographical backgrounds, age, ethnicity and gender to ensure that the Group has a competitive advantage. In evaluating the suitability of individual Board members, the Nomination Committee (“ NC ”) takes into account several factors, including skills, knowledge, expertise, experience, professionalism and time commitment to effectively discharge his or her role as a Director, contribution, background, character, integrity and competence. *O UIF DBTF PG DBOEJEBUFT GPS UIF QPTJUJPO PG *OEFQFOEFOU /PO &YFDVUJWF %JSFDUPST UIF /$ XJMM FWBMVBUF the candidates’ ability to discharge their responsibilities and bring in their independent judgement, provide constructive challenge, strategic guidance, offer specialist advice and impartiality. The Board evaluates each individual in the context of the Board as a whole. The ultimate objective is to recommend a team which can best perpetuate the success of the Group’s businesses and represent shareholders’ interests through the exercise of sound judgement. The Board has no specific policy in place on setting targets on female candidates to be appointed to the Board. The Board currently has one (1) female Director. With the current composition, the Board feels that its members have the necessary knowledge, experience, diverse range of skills and competence to enable them to discharge their duties and responsibilities effectively. Moving forward, the Board, being in line with the national target of IBWJOH XPNFO PO UIF CPBSET PG MJTUFE JTTVFST XJMM NBJOUBJO B SFHJTUFS PG QPUFOUJBM EJSFDUPST XIJDI JODMVEFT IJHI DBMJCSF GFNBMF DBOEJEBUFT UP CF BQQPJOUFE XIFO UIF OFFE BSJTFT III. REMUNERATION The Board has in place a Directors and Senior Management’s Remuneration Policy which is clear and USBOTQBSFOU EFTJHOFE UP TVQQPSU BOE ESJWF CVTJOFTT TUSBUFHZ BOE MPOH UFSN PCKFDUJWFT PG UIF (SPVQ *O UIJT regard, the Remuneration Committee (“ RC ”) is responsible to formulate and review the remuneration policies for the Directors of the Group to ensure the same remains competitive, appropriate, and in line with the prevailing market practices. The Board carries out a remuneration review for its employees including that of Senior Management, with the view to ensure that the Group continues to retain and attract the best talents in the industry. The proposed salary structure, is duly considered by the RC, is subsequently brought to the Board to be approved for implementation. 'VSUIFS EFUBJMT PO IPX UIF #PBSE PQFSBUFT FGGFDUJWFMZ BOE EJTDIBSHFT JUT DPMMFDUJWF SFTQPOTJCJMJUZ GPS UIF MPOH UFSN TVTUBJOBCMF TVDDFTT PG UIF (SPVQ DBO CF PCUBJOFE JO UIF $PSQPSBUF (PWFSOBODF 4UBUFNFOU TFU PVU PO QBHFT to 110 of this report. CORPORATE GOVERNANCE OVERVIEW (CONT’D)