My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 101 A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. Board Responsibilities (cont’d) 7. Board Charter The Group has established a Board Charter to promote high standards of corporate governance which is designed to provide guidance and clarity to Directors and the management with regard to the role of the Board and its committees. The Board Charter clearly sets out the key values and principles of the Group and further sets out the duties and responsibilities of the Board, the Chairman of the Board, the Group Managing Director, the Independent Director and the board committees. The Board Charter also provides structure guidance and ethical standards for the Board in discharging their duties towards the Group as well as its operating practices. The Board has a formal schedule of matters reserved for the deliberation as set out below, to ensure good HPWFSOBODF JT JO QMBDF GPS UIF (SPVQ z Conflict of interest issues relating to a substantial shareholder or a Director including approving related party transactions z Material acquisitions and disposal of assets not in the ordinary course of business including significant capital expenditures z Strategic investments, mergers and acquisitions and corporate exercises z -JNJUT PG BVUIPSJUZ z Treasury policies z Risk management policies z Key human resource issues z Business plans The Board Charter is reviewed annually by the Board to ensure it complies with legislations and best practices, and remains effective and relevant to the Board’s objectives. A copy of the Board Charter can be found on the Group’s website at https://www.myeg.com.my/investor_ relations (under the “Corporate Governance” tab). 8. Code of Conduct, Code of Ethics and Code of Business Ethics The Group has established a Code of Conduct, Code of Ethics and Code of Business Ethics to promote a corporate culture which engenders ethical conduct that permeates throughout the Group. Whereas, the Board is focused on the creation that imbues throughout the Group. The Code of Conduct is based on principles in relation to trust, integrity, responsibility, excellence, loyalty, commitment, dedication, discipline, diligence and professionalism. The Code of Ethics is based on the principles in relation to sincerity, integrity, transparency, accountability and corporate social responsibility. The Code of Business Ethics sets out the standards of ethical business practices and conduct that the Group expects from all business associates of the Group. The Group practices the relevant principles and values in the Group’s dealings with employees, customers, suppliers and business associates. The Directors, officers and employees of the Group are also required to observe, uphold and maintain high standards of integrity in carrying out their roles and responsibilities and to comply with the relevant laws and regulations as well as the Group’s policies. Ongoing training on the Code of Conduct, Code of Ethics, Code of Business Ethics and general workplace behaviour is provided to the Group’s employees to ensure they continuously uphold high standard of conduct when performing their duties. 4VCTFRVFOU UP UIF JOUSPEVDUJPO PG UIF .BMBZTJBO "OUJ $PSSVQUJPO $PNNJTTJPO "NFOENFOU "DU UIF (SPVQ has established an ABAC Framework setting out the Group’s stance against bribery and corruption and adequate procedures for managing bribery and corruption risks in the Group’s businesses, regardless of the country of operation. Consequential to the establishment of the ABAC Framework, the Group has then adopted the ABAC 1PMJDZ BOE "OUJ #SJCFSZ 1SPDFEVSFT GPS .BOBHJOH 4UBLFIPMEFST CORPORATE GOVERNANCE STATEMENT (CONT’D) GOVERNANCE