ANNUAL REPORT 2021 107 GOVERNANCE CORPORATE GOVERNANCE OVERVIEW INTRODUCTION The Board recognises the importance of corporate governance and is committed to ensure that the principles and best practices in corporate governance as set out in the MCCG and Corporate Governance Guide (4th Edition) are observed and practised throughout the Group so that the affairs of the Group are conducted with integrity and professionalism, in compliance with the law, regulatory requirements and rules, and ethically with the objective of safeguarding shareholders’ investment and ultimately enhancing shareholders’ value as well as sustainable development. This statement outlines the following principles and recommendations which the Group has comprehended and applied with the best practices outlined in the MCCG:- z Board Leadership and Effectiveness z Effective Audit and Risk Management z Integrity in Corporate Reporting and Meaningful Relationship with Stakeholders This statement is prepared in compliance with MMLR of Bursa Securities and it is meant to be read together with the Corporate Governance Statement and Corporate Governance Report. The Corporate Governance Report provides details on how the Group has applied each practice as set out in the MCCG for the FY2021, a copy of which is available on the Group’s website: www.myeg.com.my/investor-relations/reports-presentations as well as via an announcement on Bursa Securities website. The Board will continue to take measures to improve compliance with the principles and recommended best practices along with our course of business. PRINCIPAL A: BOARD LEADERSHIP AND EFFECTIVENESS I. BOARD RESPONSIBILITIES The Board has considered and discussed a wide range of matters during the FY2021, including strategic decisions and the reviewing of risk associated matters in the business. The Board is aware that decisions made for the business of the Group would affect a broad range of our stakeholders. While the Board sought to ensure that the decisions were taken in a way that was fair and consistent with the Group’s values, the Board also recognised the importance of balancing these with the need to support the long-term future of the business. In order to ensure orderly and effective discharge of the above functions and responsibilities of the Board, the Board has established various committees where specific powers of the Board are delegated to the relevant Board Committees as depicted below:- BOARD OF DIRECTORS Nomination Committee Remuneration Committee Risk Management Committee Audit Committee ESOS Committee (“EC”) RESPONSIBILITIES RESPONSIBILITIES RESPONSIBILITIES RESPONSIBILITIES RESPONSIBILITIES z Nomination of new Directors z Annual assessment of the Board, the Board Committees and the contribution of each individual Director z Recommending to the Board the remuneration of Executive Directors and Non-Executive Directors z Monitoring of risk management and internal control z Oversight on the Group’s financial reporting z Review quarterly financial results, unaudited and audited financial statements z Administer the implementation of the ESOS in accordance with objectives and rules stated in the Bylaws
RkJQdWJsaXNoZXIy NDgzMzc=