ENRA Group Berhad Annual Report 2019

19 ENRA GROUP BERHAD ∞ Annual Report 2019 page Corporate Governance Overview Statement The Board of Directors of ENRAGroup Berhad (“ENRA” or “Company”) is committed to ensuring that high standards of corporate governance (“CG”) principles and practices are applied throughout the Company and its subsidiaries (“Group”) as a fundamental part of discharging its responsibilities to safeguard shareholders’ investments and protect the interests of all stakeholders. This Corporate Governance Overview Statement is prepared in compliance with the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) and takes guidance from the key CG principles as set out in the Malaysian Code on Corporate Governance (“MCCG”). This statement is supplemented with the Corporate Governance Report (“CG Report”) which provides details on how the Company has applied each Practice as prescribed in the MCCG during the financial year ended 31 March 2019. The CG Report is available on the Company’s website at www. enra.my. This Corporate Governance Overview Statement should also be read in conjunction with the other statements in the Annual Report, namely, the Statement on Risk Management and Internal Control, the Audit and Risk Management Committee Report and the Sustainability Report as the depth of certain CG practices may be better explained in the context of the respective statements. PRINCIPLE A - BOARD LEADERSHIP AND EFFECTIVENESS I. Board Responsibilities The Board has the overall responsibility for the corporate governance, strategic leadership and direction, the conduct of the Group’s businesses, risk management and internal controls, investor relations, management succession plan and business operations of the Group. Beyond the matters reserved for the Board’s decision, the Board has delegated the authority to achieve the corporate objectives and day-to-day management of the business of the Group to the Executive Committee comprising the Executive Deputy Chairman, the President & Group Chief Executive Officer and the Executive Director. There is a formalised Limits of Authority which defines the applicable limits specifically reserved for the Board’s approval and those delegated to the Executive Committee, the President & Group Chief Executive Officer, the Executive Directors and Management. The Executive Directors remain accountable to the Board for the authority that is delegated to them for the performance of the Group. The Board places great importance on sustainability and had taken the necessary steps to ensure high standards of governance across the Group’s operations. This includes formalising guidelines, frameworks and processes relating to, amongst others, ENRA’s capital allocation management and investment appraisal practices in managing future risks and opportunities as the Group continues to build a responsible and sustainable business. Further information on ENRA’s sustainability agenda and initiatives for the year under review are disclosed in the Sustainability Report section of this Annual Report. While the Board is responsible for creating framework and policies within which the Group should be operating, the Management is accountable for the execution of the expressed policies and attainment of the Company’s corporate objectives. This demarcation complements and reinforces the supervisory role of the Board.