Board Diversity Policy
Introduction
This Policy pursues to record, more formally, the Company’s policy on Board diversity and to
recognise the recommendation of the Malaysian Code on Corporate Governance.
Principles and Objectives
The Group strictly adheres to the practice of non-discrimination of any form, whether based
on race, age, religion and gender throughout the organisation, which includes the selection
of Board members. The Board encourages a dynamic and diverse composition of members
by nurturing suitable and potential candidates equipped with competency, skills, experience,
good character, time commitment, integrity and other qualities in meeting the future needs of
the Company.
The objectives of this Policy are to have a Board which:
- is characterised by a broad range of viewpoints rather than just diversity in skills and
experience; diversity in viewpoints would exist if there are diversity in gender, nationality,
age, culture and socio-economic backgrounds; and
- has sustainable development as its core value, thus promoting the interests of all our
stakeholders, particularly the long-term interests of our shareholders, fairly and effectively.
Scope & Policies
The Board considers that the concept of diversity incorporates a number of different aspects,
such as professional experiences, business experiences, skills, knowledge, gender, age,
ethnicity and educational background.
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- Board Composition
The Board shall include a balanced composition of Executive, Non-executive and
Independent Non-executive Directors to promote a strong element of independences in
the Board. The Independent Non-executive Directors shall be of sufficient calibre and
standing, for their views to carry weight.
- Skills and Experience
The Board shall possess a balance of appropriate skills for the requirements of the
business of the Company. The Directors shall have a mix of financial, legal, management
and other backgrounds which when working in synergy, could provide the Company with
considerable experience in a wide range of activities.
The Directors should have the capacity and competency to tackle questions and
deliberate on sustainability, as well as evaluate the sustainability risks and opportunities,
and make informed decisions on the matter. [G4.3 of the MCCG]
- Gender
The Board takes cognisant of the recommendation of the Malaysian Government to have
at least 30% women as decision makers in corporate sector. The Company shall
endeavour to increase female representation on the Board if there are appropriate
candidates available when Board vacancies arise.
- Ethnicity/Nationality
The Company aspires to have a board of directors of different nationality or ethnic
backgrounds who can contribute their knowledge and understanding of the business,
industry and environment.
- Age
The Board is fully committed to promote age diversity, valuing the contribution of its
members regardless of age, and seeks to eliminate age stereotyping and discrimination.
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Measurable Objectives
This Diversity Policy framework for the Group is aimed towards achieving the following
objectives:
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1. Selection of candidates will be based on a range of diversity perspectives, including but
not limited to, professional experiences, business experiences, skills, knowledge, gender,
age, ethnicity, educational background and sufficient understanding and knowledge of
sustainability issues that are relevant to the company and its business, to discharge its
role effectively. The ultimate decision will be based on merit and contributions that the
selected candidates will bring to the Board. The Board’s composition (including gender,
ethnicity and age) will be disclosed in the Annual Report annually. [G4.3 of the MCCG]
2. The Board acknowledges the importance of promoting gender diversity. Hence, the
normal selection criteria based on an effective blend of competencies, skills, extensive
experience and knowledge to strengthen the Board remains a priority.
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Monitoring and Reporting
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1. Pursuant to the Term of Reference of the Nomination and Remuneration Committee
(“NRC”), NRC is (among other things) responsible for:
- reviewing, recommending and considering candidates to the Board and committees
of the Board;
- assessing the effectiveness of the Board as a whole, the committees of the Board
and the contribution of each individual Directors on an on-going basis; and
- assessing the balance of the Board membership and determining the core
competencies and skills required for the Board.
2. The NRC shall report to the Board on:
- initiatives undertaken by the Board in relation to board Diversity and to achieve the
Measurable Objectives (including the progress against the achievement of
sustainability targets); [G4.4 of the MCCG]
- progress in achieving the Measurable Objectives; and
- recommendations regarding Measurable Objectives.
3. The Board shall, at least annually, assess:
- Measurable Objectives; and
- the progress in achieving the Measurable Objectives.
4. The Board will ensure that appropriate disclosures are made in the Annual Report
regarding Board Diversity.
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