FGV Annual Integrated Report 2019

109 ANNUAL INTEGRATED REPORT 2019 04 S E C T I O N • Local: RM2,000.00 • Overseas (Flight time <= 8 hours): RM2,000.00 • Overseas (Flight time > 8 hours): RM5,000.00 • Teleconferencing: RM1,000.00 The Non-Executive Directors’ revised remuneration structure (excluding Directors’ fees) is set out below: DIRECTORS’ REMUNERATION Upon recommendation by the Nomination and Remuneration Committee, the Board revised the Board Remuneration Policy on 18 October 2019 by reducing 50% of the fees of the Non-Executive Chairman (from RM600,000 per annum to RM300,000 per annum) along with other benefits with effect from financial year ended 31 December 2018. The fees for Non-Executive Directors remain unchanged. As the position of the Non-Executive Chairman is nominated by the Special Shareholder, the latter had been apprised of the Non-Executive Chairman's revised fee structure. The revised fee structure and remuneration structure was then approved by the shareholders at the Company’s Extraordinary General Meeting on 27 November 2019. The Board, upon recommendation by the Nomination and Remuneration Committee further revised the Board Remuneration Policy on 28 February 2020 by adding a provision for a monthly allowance for the Non-Executive Deputy Chairman. The Company will be seeking its shareholders’ approval on the proposed monthly allowance for the Non-Executive Deputy Chairman. SUMMARY OF NON-EXECUTIVE DIRECTORS’ REMUNERATION POLICY The Non-Executive Directors’ remuneration package reflects the experience, expertise and level of responsibilities undertaken by the Non-Executive Directors. The Non-Executive Directors’ remuneration include fees, benefits- in-kind and other benefits including meeting allowances. The Non-Executive Directors’ fee structure is set out in the table below: BOARD/BOARD COMMITTEES FEES PER ANNUM Board - RM300,000.00 (Chairman) - RM120,000.00 (Non-Executive Directors) Audit Committee - RM64,000.00 (Chairman) - RM32,000.00 (Non-Executive Directors) Nomination and Remuneration Committee - RM35,000.00 (Chairman) - RM20,000.00 (Non-Executive Directors) Board Governance & Risk Management Committee - RM32,000.00 (Chairman) - RM16,000.00 (Non-Executive Directors) Investment Committee - RM32,000.00 (Chairman) - RM16,000.00 (Non-Executive Directors) Board Tender Committee - RM32,000.00 (Chairman) - RM16,000.00 (Non-Executive Directors) Special Board Committee 1 - RM36,000.00 (Chairman) - RM24,000.00 (Non-Executive Directors) FAIR AND CONSIDERED REMUNERATION MEETING ALLOWANCE OTHER BENEFITS • Company car allowance (RM15,000.00 per month including petrol, toll charges and car maintenance) • Driver (actual) • Club membership (RM10,000.00 per annum) • Mobile phone bills (actual) • Personal entertainment (RM24,000.00 per annum) • One (1) personal bodyguard at Chairman’s disposal within Malaysia (actual) • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum • Allowance (RM3,000.00 per month) • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum Non-Executive Chairman Non-Executive Chairman and Non-Executive Directors Non-Executive Deputy Chairman Non-Executive Directors HOW WE ARE GOVERNED GOVERNANCE AT FGV: REMUNERATION