75 Summary of Board Activities in the financial year 2024 Pursuant to the Board Charter, the Board, among others, performed the following roles and responsibilities during the financial year 2024: Focus Area Key Discussion Topics Strategy • Governing and setting the strategic direction of the Group. The Board ensures that the Company’s strategic plan supports long-term value creation and incorporates strategies addressing economic, environmental and social considerations, thereby underpinning sustainability. • Reviewing, challenging and deciding on Management’s proposals for the Group and monitoring its implementation by Management to ensure alignment with the Group’s strategic objectives. • Conducting regular and formal board strategy reviews to assess performance against the balanced scorecard (BSC), a strategy execution tool. This process ensures that the Group’s strategic goals are being met and allows for adjustments as necessary. Operations • Overseeing the conduct of the Group’s businesses, including supervising and assessing Management’s performance to ensure that the Group’s businesses are being managed effectively and in accordance with established standards. • Ensuring that the Company has the necessary resources to achieve its objectives and regularly reviewing Management’s performance to confirm that goals are being met efficiently. Financial • Reviewing and approving financial statements and the Company’s annual reports. Risk, Compliance and Internal Controls • Ensuring a sound framework for internal controls and risk management is in place. • Understanding the principal risks associated with the Group’s business operations. • Ensuring the implementation of effective systems to manage these risks, supported by a robust risk management framework to identify, analyse, evaluate, manage and monitor significant financial and non-financial risks. • Ensuring the integrity of the Company’s financial and non-financial reporting. • Reviewing the adequacy and integrity of the Group’s internal control systems and management information systems to safeguard and enhance enterprise value. Governance • Setting the Company’s core values and standards, ensuring that the Company’s obligations to shareholders and other stakeholders are understood and met. • Collaborating with Management to foster a culture of good corporate governance within the Company, reinforcing ethical, prudent and professional behaviour. • Working with Management to implement policies and procedures, including managing COI, preventing abuse of power, corruption, insider trading, money laundering and group responsible sourcing. • Conducting fit and proper assessments of existing Directors seeking re-election or re-appointment, and evaluating candidates for Director positions, with the assistance of the NRC, in accordance with the Directors’ Fit and Proper Policy. Performing formal and objective annual evaluations to determine the effectiveness of the Board, its Committees, each individual Director and the Board Chairman. • Setting the remuneration of Directors and Management in line with the MCCG, considering the demands, complexities and performance of the Company, as well as the required skills and experience. Sustainability • Setting and monitoring the Group’s sustainability strategies, priorities and targets and integrating sustainability considerations into all aspects of the Group’s operations. This encompasses the development and implementation of the Group’s strategies, business plans, major action plans and risk management processes. • Ensuring that the Group’s sustainability strategies, priorities, targets and achievements are effectively communicated by Management to both internal and external stakeholders. This fosters transparency and engagement across all levels of the organisation and with the public. • Taking appropriate action to ensure that Directors stay abreast with the sustainability issues pertinent to the Company and its business, including climate-related risks and opportunities. This ensures that the Board is wellequipped to make informed decisions that align with the Group’s sustainability goals. Succession Planning • Reviewing and approving the proposals relating to appointment, training programme, compensation and replacement of key management personnel. Ensuring that Management possesses the necessary skills and experience to effectively lead the Group. Implementing measures to provide for the orderly succession of both the Board and Management, thereby maintaining continuity and stability within the Group. Investor Relations • Reviewing the Investor Relations programme to ensure that there is effective communication with all stakeholders. Company Secretary The Board has ready and unrestricted access to the advice and services of the Company Secretary. The Company Secretary supports the Board in its leadership role, discharge of fiduciary duties and as stewards of governance. The Company Secretary provides essential advisory services to the Board on issues relating to corporate governance and compliance with applicable statutory and regulatory rules.
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