FGV Annual Integrated Report 2019

82 FGV HOLDINGS BERHAD Good standards of corporate governance are critical to the long-term sustainability of our business. In shaping the Group’s strategic direction, we have sought to ensure that good governance practices are embedded in our culture and support our purpose of creating value, supporting transformation and enabling growth. AN ENGAGED BOARD While the business is continuing to show signs of improvement, it is imperative that as a Board, we continue to focus on driving the Group’s strategic pursuits and ensuring its sustainable success. As we work to transform our business, our role is to both support and challenge management proposals, and make the tough decisions to drive improved performance. Given the importance of achieving these objectives, we are constantly seeking new ways to further improve our practices. DEAR SHAREHOLDERS, I AM PLEASED TO INTRODUCE THIS YEAR’S CORPORATE GOVERNANCE OVERVIEW STATEMENT AND SHARE WITH YOU THE CONTINUED IMPROVEMENTS IN OUR GOVERNANCE PRACTICES IN 2019. CHAIRMAN’S GOVERNANCE OVERVIEW BOARD ACTIVITIES A Board performance evaluation was conductedduring the year facilitatedby an independent, professional, experienced party. Based on the outcome of the Board performance evaluation, the Board agreed on a number of actions that will be monitored throughout the year 2020 (Board Improvement Plans). COMMITTED TO OUR FUTURE In addition, a Board Succession Planning Framework was developed after taking into account the composition and size of the Board and the Board Committees and the preferred skill sets to ensure the Board has the right composition and diversity to oversee and support the ambitions of our strategic plan and business objectives. An overview of the range of key matters that the Board considered at its meetings during the year are on pages 90-91 of this statement. Our Corporate Governance Overview Statement (CGOS) is aligned with the principles set out in: CONTENTS Leadership and Effectiveness • Our Governance and Integrity Framework • Our Corporate Culture and Values • Board Composition and Skills • Our Board • Our Management • Board Activities • Board Performance Evaluation • Responsibilities, Oversight and Independence • Induction and Continuous Professional Development • Nomination and Remuneration Committee Report Accountability • Audit Committee Report • Board Governance & Risk Management Committee Report Remuneration Relations with Our Stakeholders • Communicating with Our Stakeholders Integrity in Corporate Reporting pages 84-96 pages 97-108 pages 109-112 pages 113-115 page 116 INSIDE THIS STATEMENT Malaysian Code on Corporate Governance 2017 (MCCG 2017) Bursa Securities’ Corporate Governance Guide 2017 Further information on our Board ’ s engagement with stakeholders can be found on pages 76 and 80 under Social & Relationship Capital. Material Matter: GE HOW WE ARE GOVERNED This CGOS should be read in conjunction with the Corporate Governance Report, which is available on our website at www.fgvholdings.com