FGV Annual Report 2014

Induction and Continuous Professional Development Induction programmes were conducted for all newly appointed Directors, which included briefings by Top Management to provide the Directors with the necessary information to assist them in understanding the operations of the Group, current issues and corporate strategies as well as the management structure of the Company and Group. Site visits to the Group’s plantation and mills operation, refineries and research centres and various trainings for the Top Management were organised during FYE 2014. All directors have attended and successfully completed the Mandatory Accreditation Programme as required by the Bursa Securities Listing Requirements. All Directors are encouraged to attend continuous education programmes, talks, seminars, workshops and conferences to enhance their skills and knowledge and to ensure Directors keep abreast with new developments in the business environment and enhance their skills and knowledge. On an ongoing basis, the Company identifies conferences and seminars which are beneficial for the Directors to attend. The Company provides a dedicated training budget for Directors’ continuing development. The Directors are also encouraged to attend appropriate external or internal trainings on subject matter that aids the Directors in the discharge of their duties as Directors, at the Company’s expense. During the FYE 2014, the Directors have attended the following training programmes, as deemed necessary, to further enhance their knowledge to enable them to discharge their duties and responsibilities more effectively: 1. Mandatory Accreditation Programme (MAP) for Directors of Public Listed Companies (Pursuant to Paragraph 15.09 of Bursa Securities Listing Requirements). 2. In-house Directors’ Training on ASEAN Corporate Governance Scorecard. 3. Briefing Session on Global Strategy for FGV Board by FGV. 4. Townhall Presentation on Global Strategy Blueprint by FGV. 5. In-house Directors’ Training on Related Party Transactions by Messrs. Albar & Partners. 6. World Islamic Economic Forum by World Islamic Economic Forum Foundation. 7. Public Administration and Management Seminar by Commonwealth Association for Public Administration and Management (CAPAM). 8. In-house Directors’ Training on ASEAN Corporate Governance Scorecard by MSWG. 9. GST International Seminar 2014. 10. Palm Oil Conference 2014. 11. Dialogue with YAB Prime Minister (Sustainability and Diversity). 12. Globoil India 2014. 13. World Economic Forum Annual Meeting 2014. 14. 3rd OIC Asia Trade and Economic Forum 2014. 15. 6th Annual Corporate Governance Summit. Board Meetings During the FYE 2014, the Board met fifteen (15) times to deliberate and consider a variety of significant matters that required its guidance and approval. The Board requires all members to devote sufficient time to the workings of the Board, to effectively discharge their duties as Directors, and to use their best endeavours to attend meetings. Board Meetings and Board Committee Meetings are scheduled in advance of the new financial year to enable Directors to plan ahead and fit the year’s meetings into their schedules. Special Board Meetings are convened between the scheduled meetings to consider urgent proposals or matters that require expeditious decision or deliberation by the Board. The Board has a regular annual schedule of matters which is tabled to the Board for their approval and/or notation which includes business performance updates, unaudited quarterly results, reports from all operating segments and on strategy, investments, financial and investor relations. In order for the Board Meetings to be more effective and to ensure in-depth deliberations of matters are achieved, the meeting agenda at Board meetings are sequenced taking into account the complexity of the matters for discussion/proposal and/or whether these are items for approval, discussion or notation by the Board. Whenever necessary, Top Management or external advisors are also invited to attend Board and Board Committee Meetings to provide further clarity on agenda items being discussed to enable the Board and/or Board Committees to arrive at a considered and informed decision. All Directors have complied with the requirement that Directors must attend at least 50 percent of Board Meetings held in the FYE 2014 pursuant to the Bursa Securities Listing Requirements. The attendance of the respective Directors in respect of the Board Meetings held during the FYE 2014 is set out below: Felda Global Ventures Holdings Berhad pg 120 STATEMENT ON CORPORATE GOVERNANCE