Integrated Annual Report 2024 SECTION 4 • EFFECTIVE STEWARDSHIP THROUGH GOOD GOVERNANCE 55 Corporate Governance Overview Statement PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. Board Responsibilities (cont’d) Board Roles and Responsibilities (cont’d) The Board delegates the day-to-day management of the Group to the Group Chief Executive Officer (“Group CEO”), Executive Directors and Management but reserves for its consideration pertinent significant matters. In discharging its stewardship role effectively, the Board delegates certain responsibilities to the following Board Committees and Management Committees: Board Committees (a) Audit Committee (“AC”) (b) Nomination and Corporate Governance Committee (“NCGC”) (c) Remuneration Committee (“RC”) (d) Risk Management Committee (“RMC”) Management Committees (a) Sustainability Committee (“SC”) (b) Investment Committee (“IC”) The Chairpersons of the relevant Board Committees report to the Board on key issues deliberated at their respective committee meetings. The Board acknowledges that while these Board Committees have the authority to examine issues and make recommendations to the Board, the ultimate responsibility for all matters lies with the Board. All Board Committees are actively engaged and act as oversight committees. They contemplate and recommend matters under their purview for the Board’s deliberation and approval. The Board Committees are governed by their respective Terms of Reference (“TOR”), which were approved by the Board, and discharge their respective functions as stipulated therein, whilst Group CEO, Executive Directors and Management are responsible for the day-to-day management of the Group pursuant to the powers delegated by the Board, subject to compliance with the applicable laws and regulations. The TOR of the respective Board Committees are published on the Company’s website at www.pressmetal.com. During FYE2024, the Board adopted the following new/ revised policies/ framework: • ESG-Linked Executive Incentive Remuneration Framework • Non-Assurance Services Pre-Approval Policy • Risk Management Policy These documents define the Group’s commitments towards issues relevant to good corporate governance and are periodically reviewed to ensure relevance and applicability.
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