SUMMARY OF CORPORATE GOVERNANCE PRACTICES The Board is committed in ensuring that there is a strong and effective system of corporate governance in place to support the successful execution of the Group’s strategies. As a Group driven by its responsibility to shareholders and a broader group of stakeholders, good governance for BPlant is imperative to its long-term success. The Board embraces transparency and accountability in the boardroom and promotes these critical components of governance throughout the Group. An important role of corporate governance is to ensure sustainable long-term performance, maximise returns for stakeholders and create long-term economic value and growth. As a manifestation of the Group’s commitment towards sound corporate governance, the Group has benchmarked its practices against the relevant promulgations as well as the best practices in corporate governance. During the year under review, BPlant applied all the Practices encapsulated in MCCG 2021 except: Practice 5.9 (The Board comprises of at least 30% women directors); and Practice 8.2 (Disclosure of the top five Senior Management personnel’s remuneration on a named basis in bands of RM50,000). CORPORATE GOVERNANCE FRAMEWORK The Board discharges its responsibilities within a clear defined governance framework and robust mechanisms in place. The Board, without abdicating its responsibilities, delegates its governance responsibilities to key Committees of the Board and other Management Committees. The Board retains ultimate accountability and responsibility for the performance and affairs of the Group. The Group’s governance structure and practices create value for all its stakeholders by: 01 02 04 03 promoting the Group’s future through sound sustainable practices; building cogency through principled leadership; securing the integrity and quality of financial reporting; and ensuring good reputation with accountable behaviour. BPlant’s Board, Management and staff members at Board Retreat 2023 Integrated Report 2023 099
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