DESTINI AR 2017

The Board has a formal schedule of matters reserved to itself for decision, which includes the overall Group strategy and direction, investment policy, major capital expenditures, consideration for significant financial matters and review of the financial and operating performance of the Group. The Board understands the principal risks of all aspects of the business that the Group is engaged in and recognises that business decisions require the incurrence of risk. To achieve a proper balance between risks incurred and potential returns to shareholders, the Board ensures that there are systems in place that effectively monitor and manage these risks view of the long term viability of the Group. The principal roles and responsibility assumed by the Board are as follows: • Review and adopt strategic plan of the Group The Board plays an active role in the development of the Group’s overall corporate strategy, marketing plan and financial plan. The Board is presented with the short and long term strategy of the Group together with its proposed business plans for the forthcoming year. The Board also monitor budgetary exercise which to supports the Group’s business plan and budget plan. • Implementation of internal compliance controls and justify measure to address principle risks The Board is fully alert of the responsibilities to maintain a proper risk management and internal control system. The Board’s responsibilities for the Group’s system of internal controls including financial condition of the business, operational, regulatory compliance as well as risk management matters. • To formulate and have in place an appropriate succession plan The Board is responsibility to formulate and have in place an appropriate succession plan encompassing the appointment, training, and determination of compensation for senior management of the Group, as well as assessing the performance of Directors and Committee members and, where appropriate, retiring and appointing new members of the Board and Executive Directors. • Developing and implementing an investor relations program or shareholder communications policy for the Group The Board recognises that shareholder and other stakeholder are entitled to be informed in a timely and readily accessible manner of all material information concerning the Company through a series of regular disclosure events during the financial year. Hence, the Company’s website is the primary medium in providing information to all shareholders and stakeholders. The roles and responsibilities of the Board are clearly defined in the Board Charter, which is available on the Company’s website at www.destinigroup.com/investor-relations/ The Board will normally hold meetings at least four (4) times in each financial year to consider: i) relevant operational reports from the management; ii) reports on the financial performance; iii) specific proposals for capital expenditure and acquisitions, if any; iv) major issues and opportunities for the Company, if any; and v) quarterly financial statements for announcement to authorities. 51 DESTINI BERHAD Annual Report 2017