86 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 CORPORATE GOVERNANCE OVERVIEW STATEMENT With regard to the assessment conducted in 2023, based on the approved evaluation criteria, the overall rating of the Board, Board Committees and Individual Directors, were as provided below. Part I: Board and Board Committee Effectiveness Evaluation Part II: Directors’ Effectiveness Evaluation In terms of the effectiveness of the Board and Board Committees, based on the assessment of each of the evaluation criteria listed below, the Board had scored between 76% to 100% with an Overall Scoring of 43.39 out of the total marks of 52 or 83.4%. The lowest score given was in respect of Board Remuneration where the scoring was only 67%. Board/ Board Committee Overall Rating Section A: Overall Board Effectiveness 8.38/ 10.00 (84%) Section B: Board Responsibilities 2.39/ 3.00 (80%) Section C: Board Culture 2.35/ 3.00 (78%) Section D: Board Chair 2.52/ 3.00 (84%) Section E: Board Composition 2.38/ 3.00 (79%) Section F: Committees a. Board Committees Evaluation 2.56/ 3.00 (85%) b. Board Committees Self Evaluation i. Audit Committee 3.00/ 3.00 (100%) ii. Employees’ Share Scheme Committee 2.67/ 3.00 (89%) iii. Group Board Digital Innovation & Technology Committee 2.60/ 3.00 (87%) iv. Group Board Risk Committee 2.60/ 3.00 (87%) v. Group Governance, Nomination & Compensation Committee 2.60/ 3.00 (87%) Section G: Group Managing Director 2.67/ 3.00 (89%) Section H: Board Remuneration 2.00/ 3.00 (67%) Section I: Board Administration and Process 2.29/ 3.00 (76%) Section J: Board Education 2.38/ 3.00 (79%) In terms of Individual Directors, their effectiveness were assessed based on the following criteria: For all these criteria, each of the Individual Director had attained a scoring of – Section A: Board Dynamics and Participation Section B: Leadership, Integrity and Objectivity Section C: Knowledge and Expertise between 2.86/ 3.00 (95%) and 2.96/ 3.00 (99%) for Board Dynamics and Participation; between 2.86/ 3.00 (95%) and 2.97/ 3.00 (99%) for Leadership, Integrity and Objectivity; and between 2.83/ 3.00 (94%) and 3.00/ 3.00 (100%) for Knowledge and Expertise.
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