MISC Integrated Annual Report 2020

PRINCIPLE C: INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS Investor Relations and Communication with Stakeholders The Board values its dialogue with the investing community, including both the institutional shareholders and private investors, to enhance investors’ understanding of the Group. MISC aims to continuously build and maintain transparent communication with the shareholders, potential investors and the investing community. Through MISC Group’s Investor Relations programme, MISC is committed to uphold best practices in CG and ensure timely and equal dissemination of material information to its stakeholders. In 2020, MISC used the following channels/forums to communicate and engage with its stakeholders: • MISC Annual General Meeting; • Quarterly financial reports; • MISC Annual Report; • Announcements on major developments to Bursa Securities; • MISC website at www.misc.com.my ; and • Analyst Briefings following the announcement of quarterly financial reports. For more information on MISC’s engagement with stakeholders in 2020, please refer to the Stakeholder Engagement in Anchoring Sustainability @ MISC section on pages 107 to 113 of this Integrated Annual Report. Integrated Reporting MISC has adopted integrated reporting based on a globally recognised framework with a view of helping our stakeholders understand how MISC creates value and to promote greater transparency and accountability on the part of the Company, in line with the MCCG 2017. The adoption of integrated reporting has been implemented on staggered basis since 2017 and the MISC Integrated Annual Report 2020 is our first integrated report that is prepared based on the 2013 <IR> Framework as developed by the International Integrated Reporting Council (IIRC). The revised <IR> Framework 2021 will be adopted in future reports. Conduct of Annual General Meeting (AGM) The MISC AGM is the principal forum for dialogue with our shareholders and an avenue for the Chairman and Board members to interact with the shareholders. The Chairman plays a pivotal role in accommodating constructive dialogue between shareholders and the Board. The shareholders are strongly encouraged to attend, participate, speak and vote at the Company’s AGM, and all queries posed to the Board prior to and during the AGM are responded to accordingly. The COVID-19 pandemic which resulted in movement control orders being issued by the Malaysian Government throughout 2020, prompted MISC to re-imagine its hosting of the AGM. On 26 June 2020, MISC held its inaugural fully virtual AGM, leveraging on technology to facilitate voting in absentia and remote shareholders’ participation at the AGM. The following were some of the measures taken by MISC to encourage attendance and participation from the shareholders at the virtual AGM: • Comprehensive Administrative Notes were circulated to shareholders to facilitate remote participation and e-Voting; • Electronic lodgement of Proxy Forms was enabled; • The AGM proceedings was broadcasted live via a web portal and mobile application; • Questions raised by the Minority Shareholders Watch Group (MSWG) prior to the AGM were shared with the shareholders during the AGM together with the Company’s responses thereto; • Electronic submission of questions by shareholders either via e-mail or via the virtual AGM platform was enabled; and • The President/Group CEO presented highlights of MISC Group’s performance prior to the formal proceedings of the AGM and responded to queries received from shareholders. The list of questions and answers are published on MISC’s website. The AGM is scheduled in advance of any new financial year to facilitate Board members to plan and fit the year’s AGM into their schedules. In 2020, all nine Board members attended the AGM. The Notice of AGM is issued 28 days prior to the AGM, as recommended by the MCCG 2017. Voting at the AGM is conducted via electronic polling, in compliance with the MMLR. The polling process is explained clearly during the AGM to ensure a smooth and pleasant voting experience by the shareholder. Poll results are verified by appointed scrutineers prior to the Chairman’s announcement of the outcome. This CG Overview Statement is made in accordance with the resolution of the Board of Directors passed on 23 February 2021. CORPORATE GOVERNANCE OVERVIEW STATEMENT NOMINATION AND REMUNERATION COMMITTEE REPORT CHAIRMAN’S REMARKS MISC has always been committed to embedding ESG within all aspects of its operations, of which human capital is a key consideration. We believe that in a competitive global landscape, a business’ continued success is very much dependent on a robust approach towards human capital governance encompassing effective oversight over issues such as the development of a sustainable pipeline of talents, ensuring fair and objective performance evaluation and remuneration as well as effective succession planning both at the Board and senior management levels. MISC has maintained its efforts to attract and retain the best talents in the industry, in its bid to remain competitive and sustain its long-term growth trajectory. In 2020, in addition to deliberating on remuneration, bonus levels, the management of top talents and training programmes for Board members, the Nomination and Remuneration Committee (NRC) also focused on leadership succession at the Board level. DATUK NASARUDIN MD IDRIS Chairman Nomination and Remuneration Committee Another key highlight of the year was the addition of new Board members at MISC. We managed this process seamlessly and welcomed three new members to be part of MISC’s Board including our new Chairman, Datuk Abu Huraira Abu Yazid. We believe this fresh injection of Board talent will bring about new perspectives and ideas that MISC can leverage on to strategically chart its future growth. As we move into 2021, the NRC members remain committed to continue with our efforts to sustain the human capital agenda at MISC, in line with the Group’s value creation ambitions. DATUK NASARUDIN MD IDRIS Chairman Nomination and Remuneration Committee /////// Business Review / Leadership / Governance / Financial Statements / Additional Information / MISC Berhad / Integrated Annual Report 2020 9 274 MISC Berhad / Integrated Annual Report 2020 9 275 / Additional Information / Financial Statements / Governance / Leadership / Business Review /////// Section Section

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