61 / 188
57
F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
OVERVIEW STATEMENT
CORPORATE GOVERNANCE
The Board is committed to establishing and maintaining high standards of corporate governance throughout the Group as a
fundamental part of discharging its responsibilities to protect and enhance the shareholders’ value and financial performance of
the Group. Such commitment is based on the belief that a strong culture of good corporate governance practices is fundamental
towards enhancing long term shareholders’ value, increasing investors’ confidence and protecting stakeholders’ interests.
This statement illustrates the extent of which the Board has embodied the spirit and principles of the Malaysian Code on Corporate
Governance (“MCCG”) with regards to the recommendations stated under each principle for the year under review and should
be read in conjunction with the Corporate Governance Report which is accessible online at
http://www.fimacorp.com/corporate-governance.php
PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS
I.
BOARD RESPONSIBILITIES
Board Duties and Responsibilities
The Board is accountable to shareholders for the strategic direction of the Company in order to enhance shareholder value.
The chart outlined below provides overview of the Company’s corporate governance framework:-
Stakeholders
Board of Directors
Managing Director
Nomination and
Remuneration Committee
Risk Management
Committee
Audit Committee
Heads of Divisions
The roles and responsibilities of the Board are formalised in a Board Charter. The Board Charter also defines the formal
Schedule of Matters reserved for the Board including, amongst others various strategic, financial, operational and governance
matters. The Board Charter may be viewed in the ‘Investors’ section of the Company’s website.