FIMA CORPORATION BERHAD ANNUAL REPORT 2020

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Fima CORPORATION Berhad (197401004110) (21185-P) • Annual Report 2020 71
Corporate Governance
Overview Statement
The Board recognizes the importance of good corporate governance and is committed to establishing and maintaining high standards of
corporate governance throughout Fima Corporation Berhad (“the Company” or “FimaCorp”) and its subsidiaries (“the Group”).
This Corporate Governance Overview Statement (“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
CORPORATE GOVERNANCE FRAMEWORK
The diagram below illustrates the Company’s current corporate governance framework. It shows the relationship between the Board, its
Committees, the Managing Director (“MD”), senior management and various independent assurance functions.
Board of Directors
Independent
assurance
company secretaries
risk steering
committee
disclosure
committee
ad-hoc COMMITTEES
& teams
heads of
divisions
group sustainability
committee
managing director
senior
management
Accountability and reporting
The Board delegates powers to the Managing
Director for all matters except those reserved
for the Board or its Board Committees
• Internal auditor
• External auditors
• Legal & professional
advisors
Sets the direction and
translates Group’s strategy
into clear expections,
standards of performance
and behavior for their
division
The Company Secretaries role
is to support the Board and
its Committees
Accountability and reporting
Delegation and oversight
Accountability and reporting
Delegation and oversight
AUDIT & RISK
COMMITTEE
Nomination
&
REMUNERATION
committee
other
committees