103 ANNUAL REPORT 2024 PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) PART III: REMUNERATION (CONT’D) 8. RC The RC is responsible for reviewing, recommending and ensuring that remuneration packages for Directors and Senior Management are fair and competitive, as guided by the Remuneration Policy. The RC will also periodically review the Remuneration Policy to ensure its continued relevance and effectiveness. The roles and responsibilities of the RC are defined in its Terms of Reference, which is available on the Company’s website at www.keyfieldoffshore.com/corporate-governance. The RC comprises exclusively of Independent Non-Executive Directors. During FYE 2024, the RC held 1 meeting and the details of the meeting attendance are as below: Position Name Directorship Meeting Attendance Chairman Lim Chee Hwa Independent Non-Executive Director 1/1 Member Julannar Binti Abd Kadir Independent Non-Executive Director 1/1 Member Chia Chee Hoong Independent Non-Executive Director 1/1 To uphold fairness and transparency, each Director abstained from participating in discussion and voting on matters concerning their own remuneration at both RC and Board meetings held during the financial year under review. During FYE 2024, the summary of activities carried out by the RC is as follows: (a) Reviewed and recommended to the Board, the Directors’ fees and benefits payable for the period from the conclusion of the forthcoming Fourth AGM to the next AGM for shareholders’ approval at the forthcoming Fourth AGM; (b) Reviewed the proposed bonus payment for the Executive Directors and Key Senior Management of the Company for the FYE 2024 and recommended the same to the Board for approval; and (c) Reviewed the proposed salary increment for the Executive Directors and Key Senior Management of the Company effective from January 2025 and recommended the same to the Board for approval. CORPORATE GOVERNANCE OVERVIEW STATEMENT (cont’d)
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