2019 UEM Edgenta Annual Report

109 UEM Edgenta Berhad UEM EDGENTA AT A GLANCE MESSAGE FROM OUR LEADERSHIP STRATEGIC FOCUS OPERATIONAL REVIEW SUSTAINABILITY EFFORTS CORPORATE GOVERNANCE INTRODUCTION FINANCIAL REVIEW ADDITIONAL INFORMATION Annual Report 2019 REMUNERATING THE BOARD The Directors’ remuneration is reviewed from time to time and is determined at levels which enable UEM Edgenta Group to attract and retain Directors with the relevant experience and expertise needed to manage the Group effectively. The Managing Director/Chief Executive Officer is subject to a 3-year service contract with the Company. He is neither paid Directors’ fees nor meeting attendance allowances. His remuneration is structured so as to link rewards to corporate and individual performance. Performance is measured against specified targets by reference to the Group’s Annual Business Plan. The reward process also takes into account relevant market comparisons and competitive pressures in the industry. Non-Executive Directors are paid a fixed base fee on a quarterly basis. With the recommendation from the NRC, the Board as a whole determines the remuneration for Non-Executive Director with directors concerned abstaining from deliberation or voting on decision in respect of their remuneration. The aggregate amount of Directors’ fee to be paid to Non-Executive Directors is subject to the approval of the shareholders at general meetings. The Directors Remuneration Framework are as follows. Details of the quantum of the individual directors’ remuneration on named basis are as set out in the CG Report under Practice 7.1. Board / Committee Directors’ Fee per annum (RM) Chairman Member Board 210,000 108,000 Audit and Risk Committee 50,000 30,000 Other Board Committees 25,000 15,000 The current benefits payable and accorded to the Directors are:- Description Directors’ benefits (a) Allowance will be paid to Directors for the following: (i) Attending meetings with Government representatives on behalf of the Company; or (ii) Handling operational issues such as site visits to advise operating companies. RM1,000 per day (b) Meeting allowance for ad-hoc or temporary Board Committees established for specific purposes. Per meeting Chairman of Committee Member of Committee RM2,000 RM1,000 Corporate Governance Overview Statement