Malaysia Airports Holdings Berhad 156 >> Our Governance C o r p o r a t e G ov e r n a n c e O v e r v i ew S t a t e m e n t The following are key components of Malaysia Airports’ Corporate Governance Framework: BOARD CHARTER TERMS OF REFERENCE OF BOARD COMMITTEES CODE OF ETHICS AND CONDUCT LIMITS OF AUTHORITY CORPORATE GOVERNANCE FRAMEWORK The Board reviews the above Corporate Governance Framework periodically. The Board also regularly assesses and enhances its Corporate Governance Framework, practices, and principles to keep abreast with developments in regulatory environment, international best practices, as well as the Company’s business needs. PRINCIPLE A : Board Leadership and Effectiveness Board The Board is entrusted with the tasks of promoting the success of Malaysia Airports by steering and monitoring its affairs in a responsible and effective manner. Each member of the Board has a duty to act in good faith as well as in the best interest of the Group. In discharging its duties and responsibilities, the Board is cognisant of the key roles it plays in charting the strategic direction of the Group and has assumed the following principal responsibilities in discharging its fiduciary and leadership functions: • To determine the Company’s long-term direction, formulate business objectives and strategies, including strategies that promote sustainability. • To ensure that it has adequate resources to meet its objectives and that it maintains an effective/sound risk management framework. • To review and implement the Company’s internal control system. • To monitor its performance and ensure that it acts ethically in meeting its responsibilities to shareholders and other stakeholders. • To decide and approve matters relating to long-term strategy and objectives, capital and operating plans, major investments and disposals, funding and dividend strategy, as well as quarterly and annual financial results and statements. Chairman, Group Chief Executive Officer (GCEO) [Managing Director] and Senior Independent Director To ensure an effective discharge of responsibilities, there is a clear division of responsibilities between the running of the Board, and the executives responsible for the running of the day-to-day business operations of the Group. This division of responsibilities helps ensure objectivity between the functions of the Board and Senior Management.
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