CORPORATE GOVERNANCE STATEMENT The Board recognises the importance of corporate governance and is committed to ensuring that the principles and best practices outlined in the MCCG and Corporate Governance Guide (4th Edition) are observed and practised throughout the Group. This commitment ensures that the affairs of the Group are conducted with integrity and professionalism, in compliance with applicable law, regulatory requirements, and ethical standards. The Board’s objective is to safeguard shareholders’ investments, enhance shareholder value, and promote sustainable development. The Board recognises that a robust corporate governance framework is fundamental to driving financial performance and delivering sustainable, long-term value to shareholders. Accordingly, the Board remains committed to full compliance with the MCCG and all applicable laws and regulations pertaining to corporate governance. This Corporate Governance Statement (“CG Statement”) outlines the dedication of the Board to ethical behaviour and transparency across the Group’s business strategy, operations, and corporate culture. The goal is to achieve sustainable growth, foster stakeholder trust, and reinforce the Group’s reputation as a responsible corporate citizen. The Board is pleased to present this CG statement, which details how the Group has adopted and applied the principles and complied with the best practices set out in the MCCG and Paragraph 15.25 of the MMLR of Bursa Securities. A. BOARD LEADERSHIP AND EFFECTIVENESS i. Board Responsibilities 1. Board of Directors The Group is steered by an effective and experienced Board, comprising members from diverse backgrounds and specialisations. Collectively, they possess a wide range of expertise in areas such as finance, corporate affairs, accounting, marketing, human resources, technology, and legal matters. This diversity of skills, experience, and knowledge strengthens the Board’s leadership in directing the Group’s operations. A clear division of responsibilities between the Board and Management ensures that no single individual or group dominates the decision-making process. Individually, each Director has a legal duty to act in the best interests of the Group. Collectively, the Board is fully aware of its responsibilities to the stakeholders for overseeing the Group’s affairs and managing the Group’s long-term success. The Board’s responsibilities include, among others: • Promoting Good Governance: Working with Senior Management to foster a corporate governance culture that reinforces ethical, prudent, and professional behaviour; • Strategic Oversight: Reviewing, challenging, and deciding on Management’s proposals for the Group, and monitoring their implementation; • Long-Term Value Creation: Ensuring the Group’s strategic plan supports long-term value creation, incorporating economic, environmental, and social considerations underpinning sustainability; • Performance Monitoring: Supervising and assessing Management’s performance to ensure the business is being properly managed; • Risk Management: Establishing a sound framework for risk management and internal controls; • Risk Appetite: Understanding the principal risks of the Group’s business, recognising that business decisions involve taking appropriate risks, and setting the risk appetite within which Management is expected to operate; • Risk Framework: Ensuring an appropriate Risk Management Framework is in place to identify, analyse, evaluate, manage, and monitor significant financial and non-financial risks; • Succession Planning: Ensuring Senior Management possesses the necessary skills and experience, and implementing measures for the orderly succession of the Board and Senior Management; • Stakeholder Communication: Establishing procedures to enable effective communication with stakeholders; and • Reporting Integrity: Ensuring the integrity of the Group’s financial and non-financial reporting. 164
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