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Supply of Information to the Board
The Board has unrestricted access to timely and accurate information, necessary in the
furtherance of their duties, which is not only quantitative but also other information deemed
suitable such as customer satisfaction, product and service quality, market share and market
reaction.
All Directors review the Board report prior to the Board meeting. This is issued in sufficient
time to enable the Directors to obtain further explanations, where necessary, in order to be
briefed properly before the meeting.
In addition to Group performances discussed at the meeting, there is a schedule of matters
reserved specifically for the Board’s decision, including the approval of corporate plans and
budgets, acquisitions and disposals of assets that are material to the Group, major
investments, changes to management and control structure of the Group, including key
policies, procedures and authority limits.
All Directors have access to the advice and services of the Company Secretary and where
necessary, in the furtherance of their duties, take independent professional advice at the
Company’s expense.
Appointments to the Board
The Code endorses, as good practice, a formal procedure for appointments to the Board, with
a Nomination Committee (NC) making recommendations to the Board. The Board has
approved the setting up of the NC on 31 October 2001.
As an integral element of the process of appointing new directors, the NC ensures that there
is an orientation and education programme for new Board members. Directors also receive
further training from time to time, particularly on relevant new laws and regulations and
changing commercial risks.
For the current year, all the Directors have attended the Mandatory Accreditation Programme
as required under the KLSE rulings. The Board, through the NC intends to annually review the
mix of skills of its component members and institute a self-assessment of its effectiveness in
due course.
Laporan Tahunan 2002 Annual Report
STATEMENT OF CORPORATE GOVERNANCE (CONTINUED)
29