OUR GOV ERNANCE www.malaysiaairports.com.my 183 With continuous guidance from the Board, the Malaysia Airports’ corporate governance structure remains robust and effective across the Group. Responsibility for good governance lies with the Board, and to ensure the effective discharge of its functions and responsibilities, the Board delegates its powers to the Board Committees and Managing Director (MD) as well as to the Executive Committee (EXCO) which comprises Senior Management personnel. The Board, in implementing corporate governance best practices, ensures accountability to the Company’s shareholders and other stakeholders. Malaysia Airports’ Corporate Governance Framework can be illustrated as follows: - This statement provides an overview of Malaysia Airports’ application of the following three (3) key principles of corporate governance as set out in the MCCG 2021: - We hereby present our application and adoption of the recommendation and practices of MCCG 2021 throughout this statement. This statement is prepared in compliance with Listing Requirements of Bursa Securities, and it is to be read together with the CG Report 2022 of the Company (CG Report) which is available on the Company’s website at www.malaysiaairports.com.my. As of 31 December 2022, Malaysia Airports adopted and applied 41 out of 43 recommended practices by MCCG 2021 together with 3 out of 5 optional step-up practices. The CG Report provides the details on how the Company has applied each Practice as set out in the MCCG 2021 during the financial year 2022. CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE OVERVIEW STATEMENT STAKEHOLDERS BOARD OF DIRECTORS MANAGING DIRECTOR EXECUTIVE COMMITTEE COMPANY SECRETARY INTERNAL AUDIT DIVISION BOARD AUDIT COMMITTEE (BAC) BOARD NOMINATION & REMUNERATION COMMITTEE (BNRC) BOARD PROCUREMENT COMMITTEE (BPC) BOARD FINANCE & INVESTMENT COMMITTEE (BOFIC) BOARD RISK MANAGEMENT COMMITTEE (BRMC) BOARD LEADERSHIP AND EFFECTIVENESS EFFECTIVE AUDIT AND RISK MANAGEMENT INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS A B C
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