FGV Annual Report 2015

97 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 An Engaged Board The Board, Board Committees and individual Director evaluation affords us the opportunity to continuously improve and evolve governance within the Group. We engaged the services of an independent external consultant to assist the Board in its self-evaluation, and in 2015, we extended the mandate to include an assessment of how the Board has evolved and the extent of the implementation of findings from previous years. This was augmented by a Director peer review process to provide constructive feedback to each Director in support of continuous improvement at an individual level. I am pleased with the progress the Board has made, in working as an effective and cohesive unit that draws on the strengths of each Director without placing undue reliance on any one individual. We consider the Board’s strength to be its ability to leverage its collective experience and wisdom, and its willingness to ask the seemingly simple questions that ensure that all avenues have been explored prior to making a decision on matters of strategy and the assessment of risk. Looking Ahead As regulations continue to evolve, we constantly look for ways to enhance Directors’ knowledge. This also happens at Board Committee level, where time is spent on in-depth discussions of relevant topics and impending legislation. This allows the Group an opportunity to proactively engage with relevant Stakeholders on matters that have potential to impact our strategy. We remain committed to the highest standards of corporate governance, integrity and professionalism, and maintain a commercial mindset across the Group. Our governance framework operates across our business units, functional operating structures, and in the regions where we operate. In the year under review, we continued to monitor the implementation of our subsidiary governance framework and, where necessary, introduced principles of engagement with boards of directors of subsidiary entities. YB Tan Sri Haji Mohd Isa Dato’ Haji Abdul Samad Chairman Initiatives Enhancing Approach Objectives Progress 6 Initiatives toward excellence in Corporate Governance 4. FGV - Corporate Governance Scorecard (FGV-CGS) The scorecard shall allow easier monitoring of corporate governance compliance within the Group. Work-In-Progress: expected completion in FY2017. 5. FGV - Corporate Governance Award (FGV-CGA) To recognise and reward excellent companies that exhibit high performance and excellent attributes of corporate governance within FGV Group. FGV-CGA was conducted in FY2015. Award ceremony to recognise CG winners was held on 31 March 2016 during “Hari Tadbir Urus Kumpulan Felda 2016 – Ke Arah Kecemerlangan Bisnes”. 6. Enhance Systems & Procedures Toward Good Governance (ISO9001:2015) The ISO 9001:2015 shall prepare the foundation blocks for a compliance culture as it adds internal management audit and external QMS audit by SIRIM annually. Work-In-Progress: Internal Quality Audit (IQA) at Group level will be conducted in Q12016 together with a SIRIM Adequacy Audit. Expected to be certified by SIRIM in Q22016. The ISO 9001:2015 SIRIM certification initiative is by TQM Department. Chairman’s Statement on Corporate Governance