01 promote heightened accountability at the leadership level, namely Board and Senior Management; 02 adopt in substance the corporate governance enumerations and not merely in form; 03 conduct a thorough debate and rigorous enquiry process before establishing corporate governance systems, policies and procedures; 04 identify opportunities to drive the synergistic implementation of corporate governance systems, policies and procedures for improved strategic and operational decision making; and 05 find a balance in meeting the expectations of the different groups of stakeholders of the Group. CORPORATE GOVERNANCE OVERVIEW STATEMENT This Corporate Governance Overview Statement sets out the principal features of Boustead Plantations Berhad’s (BPlant or the Company and its subsidiaries collectively referred to as the Group) corporate governance approach, summary of corporate governance practices during the financial year as well as key focus areas and future priorities in relation to corporate governance. The Board of Directors (Board) believes that good corporate governance is testament of the highest standards of professionalism and strives to ensure that it is practiced throughout the Group. The Corporate Governance Overview Statement is made pursuant to Paragraph 15.25(1) of the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Malaysia). Guidance was also drawn from Practice Note 9 of MMLR and the Corporate Governance Guide issued by Bursa Malaysia. The Corporate Governance Overview Statement is augmented with a Corporate Governance Report, based on a prescribed format as enumerated in Paragraph 15.25(2) of the MMLR so as to provide a detailed articulation on the application of the Group’s corporate governance practices vis-à-vis the Malaysian Code on Corporate Governance (MCCG). The Corporate Governance Report is available on the Group’s website at www.bousteadplantations.com.my as well as via an announcement on the website of Bursa Malaysia. This Corporate Governance Overview Statement should also be read in tandem with the other statements in the Integrated Report namely, the Statement on Risk Management and Internal Control, Audit Committee Report, Risk Committee Report and Sustainability Statement. OUR CORPORATE GOVERNANCE APPROACH The Board of BPlant is committed towards reinforcing its market position in the plantation sector, whilst remaining true to the Group’s well-established corporate governance philosophies and values. The Board believes that a robust and dynamic corporate governance framework is essential to form the bedrock of responsible and responsive decision-making in the Group. The Group’s overall approach to corporate governance is to: The Board forms the pivot of good corporate governance in the Group. As such, it plays a leading role in steering the efforts to promote meaningful and thoughtful application of good corporate governance practices. The Group regularly reviews its corporate governance arrangements and practices to ascertain that they reflect prevailing norms, market dynamics, emerging trends, developments in the regulatory framework and evolving stakeholder expectations. Boustead Plantations Berhad 098
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