GOVERNANCE 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 Malaysian Code on Corporate Governance 2021 (“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 Corporate Governance Overview (“CG Overview”) outlines the following principles and recommendations which the Group has comprehended and applied with the best practices outlined in the MCCG: r #PBSE -FBEFSTIJQ BOE &GGFDUJWFOFTT r &GGFDUJWF "VEJU BOE 3JTL .BOBHFNFOU r *OUFHSJUZ JO $PSQPSBUF 3FQPSUJOH BOE .FBOJOHGVM 3FMBUJPOTIJQ XJUI 4UBLFIPMEFST This CG Overview is prepared in compliance with the Main Market Listing Requirements of Bursa Securities (“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 financial year ended 31 December 2022 (“FY2022”), 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 is responsible for providing effective stewardship and determining the strategic direction of the Group, as well as ensuring control over the Company’s operation. The Board exercises this control through the use of a governance framework, effective delegation, risk management, and a system of assurances regarding financial reporting and internal controls. The Board is accountable to its shareholders and other stakeholders, including employees, business associates, communities, and the Government. Each Director has a duty to act in good faith and in the best interest of the Company. The Board follows the Board Charter, a document that outlines the Board’s authority, responsibilities, and operations, in guiding its actions or roles and ensure effective discharge of its responsibilities. During FY2022, the Board considered and discussed a wide range of matters, including strategic decisions and risk management in the business. The Board recognizes that the decisions made for the Group’s benefit would affect various stakeholders. While the Board aimed to make fair and consistent decisions that aligned with the Group’s values, it also recognised the importance of balancing these decisions with the need to support the Company’s long-term future business. CORPORATE GOVERNANCE OVERVIEW 111
RkJQdWJsaXNoZXIy NDgzMzc=