The Board manages the affairs of the Group guided by
the principles of good corporate governance in
accordance with the requirements and guidelines as
per the Malaysian Code on Corporate Governance
2012 (Code) as well as the Main Market Listing
Requirements (MMLR) of Bursa Malaysia Securities
Berhad (Bursa Malaysia).
The Board of Directors is committed to uphold
appropriate standards of corporate governance
practices throughout the Group and believes that
good governance practices are fundamental for the
achievement of financial goals, enhancement of
shareholders’ value and safeguard stakeholders’
interests.
The Board has approved this statement and is of the
view that it has complied with the recommendations set
out in the Code and the disclosure requirements under
the MMLR. Set out below is the manner in which the
Board has applied the principles of good governance
and the extent to which it has complied with the Code
and MMLR.
The key responsibilities of the Board cover:
• Reviewing the strategic direction for the Group;
• Overseeing and evaluating the conduct of business
of the Group;
• Reviewing the adequacy of management
information and internal control systems;
• Identifying principal risks and ensuring that the
risks are properly managed;
• Establishing a succession plan for Senior
Management; and
• Developing and implementing an investor relations
programme.
The responsibility for matters material to the Group is
in the hands of the Board, with no individuals having
unfettered powers to make decisions.
The Board has approved a board charter (Board
Charter) which sets out a list of specific functions that
are reserved for the Board. The Board Charter
addresses, among others, the following matters:
• Duties and responsibilities of the Board;
• Directors’ Code of Ethics;
• Composition and Board balance;
• The role of Chairman and Chief Executive Officer;
• Appointments;
• Re-election;
• Supply of information;
• Separation of power;
• Board Committees;
• Remuneration;
• Financial reporting;
• General meetings;
• Investor relations and shareholder communication;
and
• Relationship with other stakeholders (employees,
environment, social responsibility).
statement on
corporate
governance
BOARD ROLES AND RESPONSIBILITIES
The Board is responsible for the corporate governance practices of the Group. It guides and monitors the affairs
of the Group on behalf of the shareholders and retains full and effective control over the Group.
Bo ustead plantati o ns Berhad
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