5.0 BOARD RESPONSIBILITIES
The Board should assume, amongst others, the following responsibilities:

  1. Reviewing the code of conduct of the Company and implementing appropriate internal systems to support, promote and ensure its compliance;
  1. Reviewing and adopting a strategic plan for the Company;
  1. regularly evaluating economic, environmental, social and governance issues and any other relevant external matters that may influence or affect the development of the business or the interests of the shareholders in ensuring that the Company’s strategies promote sustainability;
  1. Overseeing the conduct of the Company’s business to evaluate whether the business is being properly managed;
  1. Reviewing, ratifying and monitoring systems of risk management and internal control and ethical and legal compliance. This includes establishing sound risk management framework, reviewing procedures to identify the main risks associated with the Company’s businesses and the implementation of appropriate systems to manage these risks;
  1. selecting, appointing and evaluating from time to time the performance of, and planning succession of the CEO under the guidance of the Nomination Committee;
  1. reviewing the procedures for appointment of senior management and ensuring that succession planning of the senior management is in place;
  1. establishing an internal audit function which reports directly to the Audit Committee;
  1. promoting effective communication and proactive engagements within shareholders and other stakeholders;
  1. ensuring there is a sound framework of reporting on internal controls and regulatory compliance;
  1. ensuring its members have access to information, advice and appropriate continuing education programmes;
  1. reviewing and approving formal and transparent remuneration policies and procedures to attract and retain directors;
  1. ensuring there is appropriate corporate disclosure policies procedures;
  1. encouraging the usage of information technology in communicating with stakeholders;
  1. taking reasonable steps in encouraging the shareholders’ participation and voting by poll at general meetings of the Company;
  1. promoting effective communication and proactive engagements with shareholders; and
  1. undertaking an assessment of the independent directors annually.
6.0 BOARD/MANAGEMENT AUTHORITIES
The Board shall have the authority to approve transactions or activities which are beyond the individual discretionary powers of senior officers or management committees delegated by the Board as per the Approving Authority limits stipulated in the relevant policy manuals of respective operating units subject to the provision of the Articles of Association of the Company.

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