CORPORATE GOVERNANCE OVERVIEW INTRODUCTION The Board recognises the importance of corporate governance and is committed to ensuring the adherence to the principles and best practices in corporate governance outlined in the Malaysian Code on Corporate Governance 2021 (“MCCG”) and Corporate Governance Guide (4th Edition) throughout the Group. This dedication ensues that the affairs of the Group are conducted with integrity, professionalism, and in compliance with the law, regulatory requirements and rules, and ethical standards with the objective of safeguarding shareholders’ investment and ultimately enhancing shareholders’ value as well as fostering sustainable development. This Corporate Governance Overview (“CG Overview”) outlines the following principles and recommendations which the Group has comprehended and applied with the best practices outlined in the MCCG: r #PBSE -FBEFSTIJQ BOE &GGFDUJWFOFTT r &GGFDUJWF "VEJU BOE 3JTL .BOBHFNFOU r *OUFHSJUZ JO $PSQPSBUF 3FQPSUJOH BOE .FBOJOHGVM 3FMBUJPOTIJQ XJUI 4UBLFIPMEFST This CG Overview is prepared in compliance with the Main Market Listing Requirements of Bursa Securities (“MMLR of Bursa Securities”) and it is meant to be read together with the Corporate Governance Statement and Corporate Governance Report. The Corporate Governance Report provides detailed information on how the Group has applied each practice as set out in the MCCG for the financial year ended 31 December 2023 (“FY2023”). A copy of which is available on the Group’s website: www.myeg.com.my/investor-relations/reports-presentations as well as via an announcement on Bursa Securities’ website. The Board will continue to take measures to improve compliance with the principles and recommended best practices along with our course of business. PRINCIPAL A: BOARD LEADERSHIP AND EFFECTIVENESS I. BOARD RESPONSIBILITIES The Board is responsible for providing effective stewardship and charting the strategic direction of the Group. This entails exercising control over the Company’s operation through the utilization of a robust governance framework, effective delegation, risk management practices, and a system of assurances concerning financial reporting and internal controls. In fulfilling its duties, the Board is accountable to its shareholders and other stakeholders, including employees, business associates, communities, and the governmental entities. Each Director is entrusted with a duty to act in good faith and in the best interest of the Company. Guiding the Board in its actions and roles is the Board Charter, a document that outlines the Board’s authority, responsibilities, and operational procedures. The Board Charter was last reviewed and adopted by the Board in February 2024 and is readily accessible for viewing on the Company’s website. During FY2023, the Board considered and deliberated on a multitude of matters, including strategic decisions and risk management strategies within the business landscape. The Board recognises that the decisions made for the Group’s benefit would affect various stakeholders. While the Board aimed to make fair and consistent decisions that aligned with the Group’s values, it also recognised the importance of balancing these decisions with the need to support the Company’s long-term viability and growth trajectory. In performing its fiduciary responsibilities and roles, the Board remains unwavering in its dedication to upholding a pinnacle standard of corporate governance. This commitment is aimed at fostering sustainable performance, adhering to best market practices, and exceeding stakeholders’ expectations. Through these endeavours, the Board undertakes to instil trust and confidence among all stakeholders while steering the Group toward a prosperous and ethical future. 126 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K)
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