FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 127 HOW WE ARE GOVERNED EXCO The EXCO is established to support the GP/CEO in the stewardship of the Group to centrally monitor the Group's performance, co-ordinate and align the Group's management and business operations to achieve FGV Group's vision, mission, strategies, through good corporate governance principles and best business and control practices based on the directions, guidance, decisions and policies of the Board and the Board Committees. The EXCO meets once a month or more frequently as circumstances dictate. The EXCO held 21 meetings in the FYE 2016. INSIDER TRADING In line with the Bursa Securities Listing Requirements and the relevant provisions of the Capital Markets & Services Act 2007, Directors, EXCO Members and principal officers of the Group are prohibited from trading in securities or any kind of property based on price sensitive information and knowledge, which have not been publicly announced. Notices on the closed period for trading in FGV's shares are circulated to Directors, EXCO Members and principal officers who are deemed to have privy to price sensitive information and knowledge, in advance of whenever the closed period is applicable. Further information on prohibitions relating to insider trading is codified in the Directors' CoEC and CoBP. CONFLICT OF INTEREST It has been the practice of the Company to require that members of the Board to make a declaration in the event that they have interests in proposals being considered by the Board, including where such interests arise through close family members, in line with various statutory requirements on the disclosure of Director's interest. Any interested Directors shall abstain from deliberations and decisions of the Board on the subject proposal and, where appropriate, excuse themselves from being physically present during such deliberations. Further information on conflict of interest is codified in the Directors' CoEC and CoBP. CORPORATE GOVERNANCE STATEMENT