REMUNERATION The levels of remuneration for Executive Directors are linked to experience, scope of responsibilities, service seniority, performance of the Executive Directors and published market survey information in order to attract, retain and motivate the Executive Directors to run the Group successfully. The components of the remuneration package for the Executive Directors include fixed salary, allowance, bonus, performance incentive and benefits-in-kind. The levels of remuneration for Independent Non-Executive Directors are based on their contribution to the Group in terms of their knowledge, experience and level of responsibilities undertaken by the Independent Non-Executive Directors concerned. The determination of Directors’ fees for all Independent Non-Executive Directors shall be a matter for the Board as a whole. 1. Remuneration Committee The Remuneration Committee was established on 27 November 2012 and comprises of two (2) members, all of whom are Independent Non-Executive Directors. The members of the Remuneration Committee and their attendance at the Remuneration Committee meetings held during the year under review are as follows: Name Designation Attendance Percentage Dato’ Lim Hong Shuan Chairman 2/2 100% Ms. Lee Pei Yee Member 2/2 100% The Remuneration Committee is responsible for recommending to the Board on the remuneration framework and packages of all Directors and in the case of Non-Executive Directors’ fees including Board Committees’ fees, the approval of the shareholders is required. The Directors shall abstain from deliberation and voting on their own remuneration. During the financial year under review, the Committee held two (2) meetings to deliberate on the following: (a) review of the salaries, bonuses and incentives of Senior Management of the Group; (b) approve the remuneration package and bonus for the Executive Directors; and (c) r eviewed and updated the terms of reference of Remuneration Committee to ensure it continues to remain relevant and appropriate for the Remuneration Committee members in discharging their function. The terms of reference of the Remuneration Committee are available for reference at www.mkhberhad.com PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 131
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