136 PRINCIPAL A: BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. BOARD RESPONSIBILITIES (CONT’D) The Board has established a formal schedule of matters reserved for its deliberation to ensure that robust governance practices are in place across the Group. These matters include: B $POáJDU PG *OUFSFTU *TTVFT "EESFTTJOH DPOáJDUT PG JOUFSFTU SFMBUJOH UP TVCTUBOUJBM TIBSFIPMEFST PS %JSFDUPST including the approval of related party transactions b) Material Acquisitions and Disposition: Overseeing the acquisition or disposition of assets not in the ordinary DPVSTF PG CVTJOFTT JODMVEJOH TJHOJàDBOU DBQJUBM FYQFOEJUVSFT D 4USBUFHJD *OWFTUNFOUT BOE $PSQPSBUF &YFSDJTFT 3FWJFXJOH BOE BQQSPWJOH TUSBUFHJD JOWFTUNFOUT NFSHFST BOE BDRVJTJUJPOT BOE PUIFS DPSQPSBUF FYFSDJTFT d) Limits of Authority: Defining and approving the limits of authority within the Group e) Treasury Policies: Establishing and reviewing treasury policies f) Risk Management Policies: Approving and monitoring risk management policies g) Key Human Resource Issues: Addressing critical human resource matters h) Business Plans: Reviewing and endorsing the Group’s business plans II. BOARD COMPOSITION The composition of the Board aligns with the requirements of the MCCG and the MMLR of Bursa Securities. With B NBKPSJUZ PG *OEFQFOEFOU %JSFDUPST UIF #PBSE FOTVSFT BEIFSFODF UP HPWFSOBODF TUBOEBSET BOE SFJOGPSDFT JUT commitment to transparency and accountability. The Board acknowledges the importance of diversity in enabling B XJEF SBOHF PG QFSTQFDUJWFT UP CF DPOTJEFSFE GBDJMJUBUJOH JOGPSNFE EFDJTJPO NBLJOH BOE FGGFDUJWF TUFXBSETIJQ PG .:&( "EEJUJPOBMMZ UIF #PBSE BMTP SFDPHOJTFT UIF OFFE UP FWPMWF TUSBUFHJDBMMZ BT B EZOBNJD FOUJUZ JO MJOF XJUI UIF $PNQBOZ T TUSBUFHJD EJSFDUJPO 5P UIJT FOE UIF #PBSE UISPVHI UIF /PNJOBUJPO $PNNJUUFF iNCu JT BDUJWFMZ SFWJFXJOH JUT DPNQPTJUJPO UP TUSJLF B CBMBODF CFUXFFO JOEFQFOEFODF BOE EJWFSTJUZ FOTVSJOH JU DBO FGGFDUJWFMZ discharge its collective responsibilities and implement necessary succession plans. 5IF #PBSE SFDPHOJTFT UIF CFOFàUT PG EJWFSTJUZ JODMVEJOH B NJY PG BHF FUIOJDJUZ HFOEFS BOE DVMUVSBM BOE geographical backgrounds. Such diversity fosters a competitive edge by harnessing a broad spectrum of QFSTQFDUJWFT FYQFSJFODFT BOE FYQFSUJTF XIJDI BSF FTTFOUJBM GPS FGGFDUJWF TUFXBSETIJQ BOE NBOBHFNFOU *O BTTFTTJOH UIF TVJUBCJMJUZ PG JOEJWJEVBM #PBSE NFNCFST UIF /$ DPOTJEFST TFWFSBM GBDUPST JODMVEJOH TLJMMT LOPXMFEHF FYQFSUJTF FYQFSJFODF QSPGFTTJPOBMJTN NF DPNNJUNFOU DPOUSJCVUJPOT CBDLHSPVOE DIBSBDUFS JOUFHSJUZ BOE DPNQFUFODF 5IFTF GBDUPST FOTVSF UIBU FBDI %JSFDUPS DBO FGGFDUJWFMZ GVMGJM UIFJS SPMFT BOE SFTQPOTJCJMJUJFT 'PS DBOEJEBUFT CFJOH DPOTJEFSFE GPS UIF QPTJUJPO PG *OEFQFOEFOU /PO &YFDVUJWF %JSFDUPST UIF /$ FWBMVBUFT UIFJS BCJMJUZ UP EJTDIBSHF UIFJS SFTQPOTJCJMJUJFT FYFSDJTF JOEFQFOEFOU KVEHFNFOU QSPWJEF DPOTUSVDUJWF DIBMMFOHF PGGFS TUSBUFHJD HVJEBODF DPOUSJCVUF TQFDJBMJTU BEWJDF BOE NBJOUBJO JNQBSUJBMJUZ "EEJUJPOBMMZ UIF /$ SFWJFXT UIF UFOVSF PG FBDI %JSFDUPS UBLJOH JOUP BDDPVOU GBDUPST TVDI BT UIFJS QFSGPSNBODF and contributions to the Board. The annual re-election of a director is contingent upon a satisfactory evaluation of their effectiveness and ongoing suitability for the role. The Board evaluates each individual in the context of the Board as a whole. The ultimate objective is to recommend a team which can best perpetuate the success of the Group’s businesses and safeguard shareholders’ interests through the exercise of sound judgement. 8IJMF UIF #PBSE EPFT OPU FOGPSDF TQFDJàD UBSHFUT GPS UIF BQQPJOUNFOU PG GFNBMF DBOEJEBUFT JU BDLOPXMFEHFT UIF JNQPSUBODF PG HFOEFS EJWFSTJUZ %VSJOH UIF ZFBS UIF UPUBM OVNCFS PG GFNBMF %JSFDUPST XBT UXP SFQSFTFOUJOH approximately 30% of women representation on the Board. The Board believes that its current composition QPTTFTTFT UIF OFDFTTBSZ LOPXMFEHF FYQFSJFODF EJWFSTF SBOHF PG TLJMMT BOE DPNQFUFODF UP FGGFDUJWFMZ EJTDIBSHF JUT EVUJFT BOE SFTQPOTJCJMJUJFT .PWJOH GPSXBSE JO BMJHONFOU XJUI UIF OBUJPOBM UBSHFU PG BDIJFWJOH GFNBMF SFQSFTFOUBUJPO PO UIF CPBSET PG MJTUFE JTTVFST UIF #PBSE XJMM NBJOUBJO B SFHJTUFS PG QPUFOUJBM EJSFDUPST JODMVEJOH IJHI DBMJCSF GFNBMF DBOEJEBUFT UP CF BQQPJOUFE BT OFFEFE CORPORATE GOVERNANCE OVERVIEW (cont’d)
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