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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
•
large capital expenditure, restructuring, acquisitions and disposals of significant assets and
investment proposals;
•
related party transactions; and
•
the overall system of internal control and risk management.
In summary, the Board’s activities during the financial year comprised the following:
•
Reviewed and adopted the Group’s strategic plans which were presented to the Board at an off-
site meeting held in October 2015.
•
Reviewed and approved the Group’s annual budget for the financial year 2016/17 and business
plans for financial years 2017/18 to 2020/21.
•
Reviewed and approved the audited financial statements for the financial year ended 31 March
2015.
•
Reviewed and approved the final quarterly results for the financial year ended 31 March 2015 and
quarterly results for nine months period ended 31 December 2015.
•
Received the quarterly group performance report from the Chief Operating Officer and Managing
Director on significant changes/development in the business and the external environment, which
affect the operations.
•
Reviewed and assessed the annual assessment of the effectiveness of the Board, Board
Committees, external and internal auditors.
•
Reviewed the current compositions of the Board and Independent Directors and the time
commitment given by the Directors in fulfilling their responsibilities as Directors and members of
the Board Committees.
•
Reviewed the tenure of the Independent Director’s time in office.
•
Reviewed and approved the statements for insertion in the Company’s Annual Report for the
financial year ended 31 March 2015.
•
Reviewed the Circular to Shareholders in relation to the proposed shareholders’ mandate for
recurrent related transactions of a revenue or trading nature and Statement to Shareholders in
relation to proposed renewal of the authority for share buy-back.
•
Reviewed the Audit Planning Memorandum for the year ending 31 March 2016.
•
Recommended the final dividend for financial year ended 31 March 2015.
•
Approved the interim dividend for financial year ended 31 March 2016.
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Reviewed and approved the acquisition of 30% equity interest in R.N.E Plantation Sdn Bhd.
•
Noted the minutes of Board Committees and Heads of Divisions meetings on a quarterly basis.
•
Noted the reports on dealings by Directors and Principal Officers in the Company’s securities.
STATEMENT OF
CORPORATE GOVERNANCE
(contd.)