05 / HOW WE ARE GOVERNED 01 02 03 04 06 07 08 09 111 Pursuant to the revised MMLR issued by Bursa Malaysia on 29 November 2024 on Paragraph 9.25 in relation to the enhancement of the remuneration disclosures in annual report with regard to Chief Executive of listed corporations, the detailed remuneration of the GMD is disclosed as stated below. Name Salary (RM’000) Bonus (RM’000) Defined Contribution Plan - EPF (RM’000) Other Emoluments (RM’000) Benefits-in Kind (RM’000) Total (RM’000) Datuk Chay Wai Leong 1,667 3,702 874 - 86 6,419 Board Effectiveness Evaluation In line with the requirements of the MMLR, BNM’s Policy Document on Corporate Governance and the recommendations of the MCCG, the performance and contribution of the Board, Board Committees and individual Directors are assessed annually in accordance with the Board Effectiveness Evaluation (“BEE”) Framework approved by the Board. This performance evaluation aims to objectively improve the effectiveness, maximise strengths and address weaknesses of the Board, Board Committees, as well as individual Directors, if any. It enables the Board to assess how they are performing and identify how certain elements of their performance may be improved. Individual Director’s performance evaluation is also aimed at assessing whether each Director continues to contribute effectively and able to demonstrate commitment to the role, including commitment of time for the Board and Board Committee meetings and any other duties. For the Board and Board Committees, effectiveness evaluation was conducted using the self-assessment method, whereas for individual Directors, a combination of self-assessment and peer assessment method was used, based on pre-determined criteria covering key areas in line with the Board Charter, as well as the Terms of Reference of the Board Committees. The Board’s effectiveness was assessed in the areas of its structure, operations and interaction, roles and responsibilities, strategy and planning, financial overview, performance management, human capital management, risk management and internal control, Shareholders’ communication and investor relations and understanding of the Board Committees’ roles. The effectiveness of each of the Board Committee was also discussed in detail and areas for enhancements identified accordingly. Based on the revamped BEE Framework approved by the Board of KIBB on 3 November 2023, the performance and contribution of the Board, Board Committees and individual Directors are assessed annually. The performance evaluation involved the completion of a detailed questionnaire by each Director using the self-assessment method for Board and Board Committees and a combination of self-assessment and peer assessment method for individual Directors. The assessment of the Board’s effectiveness were based on criteria such as Overall Board Effectiveness, Board Responsibilities, Board Culture, Board Chair, Board Composition, Board Committee’s Effectiveness, Board’s Relationship with the GMD, Board Remuneration, Board Administration and Process, as well Board Education. The Board Committees are assessed based on the fulfilment of each Board Committee’s functions and roles and responsibilities, as well as composition, processes and procedures, and interaction with Management as stipulated in their respective Terms of References. As for individual Directors, the assessment was based on pre-determined broad criteria relating to Board Dynamics and Participation, Leadership, Integrity and Objectivity, as well as Knowledge and Expertise. CORPORATE GOVERNANCE OVERVIEW STATEMENT
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