Corporate Governance
The Directors recognise the importance of corporate governance and the offering of high standards of accountability to our Shareholders.
Our Board has formed three committees: (i) the Nominating Committee; (ii) the Remuneration Committee; and (iii) the Audit Committee.
In addition, in view of our Chairman and non-executive Director, Tan Sri Dato' Hari N. Govindasamy, being the spouse of our Substantial Shareholder, Puan Sri Vimala d/o J. Govindasamy, we have appointed Harry Ng as our Lead Independent Director. The Lead Independent Director will be available to Shareholders where they have concerns for which contact through the normal channels of our President and CEO, Chairman and non-executive Director, or Executive Directors has failed to resolve or for which such contact is inappropriate.
Nominating Committee
Our Nominating Committee comprises Tan Sri Dato' Hari N. Govindasamy, Harry Ng and Kesavan Nair. The Chairman of the Nominating Committee is Kesavan Nair.
Our Nominating Committee will be responsible for:
- reviewing and recommending the nomination or re-nomination of our Directors having regard to
our Director's contribution and performance;
- determining on an annual basis whether or not a Director is independent;
- deciding whether or not a Director is able to and has been adequately carrying out his duties as
a director; and
- reviewing and approving any new employment of related persons and the proposed terms of their employment.
The Nominating Committee will decide how our Board's performance is to be evaluated and propose objective performance criteria, subject to the approval of our Board, which address how our Board has enhanced long term shareholders' value. Our Board will also implement a process to be carried out by the Nominating Committee for assessing the effectiveness of our Board as a whole and for assessing the contribution of each individual Director to the effectiveness of our Board. Each member of the Nominating Committee shall abstain from voting on any resolutions in respect of the assessment of his performance or re-nomination as Director.