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Governance
In Action
Since 2016, the Boards of FimaCorp and its penultimate holding company, Kumpulan Fima Berhad
have organised a Joint Board Retreat for 3 days to review, discuss, debate and approve the Group’s
strategy. This is both an opportunity for the Boards to reflect on progress made to date and helps
shape the Group’s plans for the coming years. It also provides an opportunity for the Board to discuss
and challenge proposed and alternative investment choices and portfolio moves, as well as providing
a forum for the Boards to assess whether or not the respective business units have achieved the right
balance of challenge and conservatism in its strategic ambitions.
During the Retreat held in March this year, the Managing Director and senior management presented
their strategic plans for each business segment. These plans were deliberated and challenged by the
Non-Executive Directors who shared their views and perspectives drawing on their backgrounds and
business experiences. The agenda also included discussions of the strategic choices and issues for
each business area; the resulting financial outlook expected for the Group; and the capabilities (people,
process and technologies) required to deliver the next phase of the Group’s strategy.
The Retreat considers ideas for the potential opportunities, risks and actions over the next three years.
In particular, the Boards discussed initiatives to deliver growth in identified business areas. Valuable
insights were gained from the Retreat and these along with other ‘agreed next steps’, as the case
may be, will be reflected in the respective businesses’ actions plans and strategies moving forward.
The Boards will receive information and updates at full board meetings throughout the year to remain
engaged and informed on these priorities and initiatives.
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