151 GOVERNANCE A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) II. Board Composition (cont’d) 2. Independency of Independent Directors 5IF #PBSE IBT BEPQUFE B ZFBS UFOVSF QPMJDZ GPS *OEFQFOEFOU /PO &YFDVUJWF %JSFDUPST TUJQVMBUJOH UIBU UIF tenure of an Independent Director shall not exceed a cumulative term of nine (9) years without further extension. *G UIF #PBSE XJTIFT UP SFUBJO B %JSFDUPS XIP IBT TFSWFE CFZPOE OJOF ZFBST UIF %JSFDUPS TIBMM CF SF EFTJHOBUF BT /PO *OEFQFOEFOU TVCKFDU UP UIF /$ T SFWJFX BOE SFDPNNFOEBUJPOT UP UIF #PBSE "T PG UIF EBUF PG UIJT TUBUFNFOU OPOF PG UIF *OEFQFOEFOU %JSFDUPST IBWF TFSWFE UIF $PNQBOZ CFZPOE OJOF ZFBST *OEFQFOEFOU %JSFDUPST QMBZ B DSVDJBM SPMF JO DPSQPSBUF BDDPVOUBCJMJUZ QSPWJEJOH VOCJBTFE WJFXT BOE JNQBSUJBMJUZ to the Board’s deliberations and decision-making process. They ensure that matters brought before the Board BSF HJWFO EVF DPOTJEFSBUJPO UIPSPVHIMZ EJTDVTTFE BOE FYBNJOFE UBLJOH JOUP BDDPVOU UIF JOUFSFTUT PG BMM TUBLFIPMEFST 5IF #PBSE UISPVHI UIF /$ BTTFTTFT FBDI %JSFDUPS T JOEFQFOEFODF BOOVBMMZ UP FOTVSF POHPJOH compliance with this requirement. The NC is satisfied that the Independent Directors are independent of Management and free from any business PS PUIFS SFMBUJPOTIJQT UIBU DPVME JOUFSGFSF XJUI UIF FYFSDJTF PG JOEFQFOEFOU KVEHFNFOU PCKFDUJWJUZ BOE UIF BCJMJUZ to act in the best interest of the Group. 3. Appointment of Board and Senior Management 5IF #PBSE DPNQSJTFT JOEJWJEVBMT XJUI FYUFOTJWF DPNQMFNFOUBSZ LOPXMFEHF DPNQFUFODJFT BOE FYQFSUJTF FOBCMJOH UIFN UP NBLF BDUJWF JOGPSNFE BOE QPTJUJWF DPOUSJCVUJPOT UP UIF (SPVQ T TUSBUFHJD EJSFDUJPO BOE EFWFMPQNFOU 5IF BQQPJOUNFOU PG UIF #PBSE BOE 4FOJPS .BOBHFNFOU JT CBTFE PO PCKFDUJWF DSJUFSJB NFSJU BOE XJUI EVF SFHBSE GPS EJWFSTJUZ JO TLJMMT FYQFSJFODF BHF DVMUVSBM CBDLHSPVOE BOE HFOEFS The NC assesses the suitability of candidates before formally considering and recommending them for BQQPJOUNFOU UP UIF #PBSE 5IF /$ DPOTJEFST BOE FWBMVBUFT DBOEJEBUFT CBTFE PO UIFJS SFRVJSFE TLJMMT LOPXMFEHF FYQFSUJTF DPNQFUFODF FYQFSJFODF DIBSBDUFSJTUJDT QSPGFTTJPOBMJTN 'PS UIF BQQPJOUNFOU PG *OEFQFOEFOU %JSFDUPST BEEJUJPOBM DPOTJEFSBUJPOT JT HJWFO UP XIFUIFS UIF DBOEJEBUFT NFFU UIF JOEFQFOEFODF SFRVJSFNFOUT BT defined in MMLR of Bursa Securities and the time commitment expected from them to attend to the Company’s NBUUFST JODMVEJOH #PBSE NFFUJOHT #PBSE $PNNJUUFF NFFUJOHT &(.T BOE "(.T The Board has adopted a Directors’ Fit and Proper Policy to assess the fitness and propriety of candidates before their appointment or re-election as Directors of the Company and its subsidiaries. This policy ensures UIBU BOZ JOEJWJEVBM BQQPJOUFE PS SF FMFDUFE BT B %JSFDUPS XJUIJO UIF (SPVQ QPTTFTTFT UIF DIBSBDUFS FYQFSJFODF JOUFHSJUZ DPNQFUFODF BOE UJNF UP FGGFDUJWFMZ EJTDIBSHF IJT IFS SPMF BT B %JSFDUPS 5IF %JSFDUPST 'JU BOE 1SPQFS Policy is available on the Company’s website. The Board follows formal and transparent procedures when appointing Directors as outlined below: r 3PMF %FàOJUJPO 5IF /$ QSFQBSFT B EFTDSJQUJPO PG UIF EFTJSFE DIBSBDUFSJTUJDT GPS UIF OFX %JSFDUPS r $BOEJEBUF *EFOUJàDBUJPO 5IF /$ TFFLT QSPGFTTJPOBM BEWJDF BT BOE XIFO OFDFTTBSZ UP JEFOUJGZ B TIPSUMJTU PG TVJUBCMF DBOEJEBUFT /PNJOBUJPOT NBZ BMTP CF QSPQPTFE CZ UIF (SPVQ .BOBHJOH %JSFDUPS PUIFS TFOJPS FYFDVUJWF %JSFDUPS PS TIBSFIPMEFS GPS DPOTJEFSBUJPOT r *OUFSWJFX BOE &WBMVBUJPO $BOEJEBUFT BSF JOUFSWJFXFE CZ BU MFBTU UXP NFNCFST PG UIF /$ 5IFJS FWBMVBUJPOT BSF DJSDVMBUFE UP BMM UIF NFNCFST PG UIF /$ BOE B UBSHFU BQQPJOUNFOU EBUF JT àYFE r 3FDPNNFOEBUJPO 5IF /$ NBLFT B NBKPSJUZ EFDJTJPO JO SFDPNNFOEJOH UIF BQQPJOUNFOU UP UIF #PBSE r #PBSE %FDJTJPO 5IF #PBSE TFMFDUT UIF CFTU DBOEJEBUF UISPVHI B CBMMPU PS NBKPSJUZ EFDJTJPO BOE QBTTFT B Board resolution to appoint the candidate. r 8SJUUFO $POTFOU 5IF OPNJOFF T XSJUUFO DPOTFOU UP BDU JG FMFDUFE JT TFDVSFE r 5SBOTQBSFODZ 5IF /$ FOTVSFT BO PQFO BOE USBOTQBSFOU BQQPJOUNFOU QSPDFTT XIJDI NBZ JODMVEF QVCMJD advertisements or direct approaches to suitable individuals or organisations. r #PBSE $PNQPTJUJPO 5IF /$ DPOTJEFST UIF PWFSBMM DPNQPTJUJPO BOE CBMBODF PG UIF #PBSE EVSJOH UIF appointment process. CORPORATE GOVERNANCE STATEMENT (cont’d)
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