Board Committees

In order to enhance the Board’s effectiveness as well as to comply with certain fiduciary duties, the Board has delegated the following responsibilities
to standing committees, which operate within clearly defined terms of reference. The respective committees are detailed below:

  • • Audit and Risk Management Committee
    The ARMC composition, terms of reference and summary of activities is included in the Audit and Risk Management Committee Report as set out
    on pages 71 to 75 of this Annual Report.


  • Nomination and Remuneration Committee
    The Nomination and Remuneration Committee (“NRC”) was formed on 12 May 2010 and is responsible for proposing candidates for directorship
    and assessing the directors on an ongoing basis. The composition of the NRC complies with the requirements of paragraph 15.08A of the Main
    Market Listing Requirements (“MMLR”). In addition, the NRC assesses the contribution of individual Board members, the effectiveness of the Board
    and the Board Committees.

The NRC is responsible in determining the remuneration of the Directors and senior management staff so as to ensure that the Company attracts, retains and motivates the Directors and senior management staff of the quality needed to manage the business of the Group effectively. The remuneration scheme is reflective of the individual Director’s and senior management staff’s experience and level of responsibilities. In addition, the remuneration for the Executive Director and senior management staff is structured to link remuneration and rewards to corporate and individual performance.

The members of the NRC are as follows:

  • Dr. Nikolai Dobberstien – Independent Non-Executive Director
  • Dato’ Mohd Salleh Bin Hj Harun – Non -Independent Non-Executive Director
  • Loh Lee Soon – Independent Non-Executive Director
  • Karen Goonting - Independent Non-Executive Director

The NRC met once during the financial year to review the Board’s structure, evaluation of Director’s performances and to review the remuneration of the Executive Director and senior management staff. The members attended all the meetings.

The Executive Director does not participate in any way in determining the individual remuneration package of the other Directors. The remuneration and benefits of the Non-Executive Directors is determined by the NRC with the individual Directors concerned abstaining from deliberating and voting on their own remuneration. The Company pays its Directors annual fees, which are approved by the shareholders. The NRC reviews the performance of the Managing Director and considers the Board’s proposed bonus and increment for the year.