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Corporate Governance
Overview Statement
Accountability and reporting
Delegation and oversight
Delegation and oversight
Accountability and reporting
Accountability and reporting
The Board delegates powers to the Group
Managing Director for all matters except those
reserved for the Board or its Board Committees
The Company Secretaries role is to support the
Board and its Committees
Board Of Directors
company secretaries
Sets the direction and
translates Group’s
strategy into clear
expectations, standards
of performance and
behaviour for their
division
Senior
Management
Risk Steering Committee
Group Sustainability Committee
Disclosure Committee
Ad-Hoc Committees & Teams
Heads Of Divisions
Group Managing Director
Independent
Assurance
- Internal Auditor
- External Auditors
- Legal & professional
advisor
Audit & Risk
Committee
Nomination &
Remuneration
Committee
Other
Committees
Kumpulan Fima Berhad (“the Company” or “KFima”) remains committed to embrace good corporate governance
practices and devotes considerable effort to identify and formalize best practices. The Board believes that sound and
effective corporate practices are fundamental to the smooth, effective and transparent operation of a company and its
ability to attract investment, protect the rights of shareholders and stakeholders and enhance shareholder value.
This Corporate Governance Overview Statement (“Statement”) illustrates the extent of which the Board has embodied the
spirit and principles of the Malaysian Code on Corporate Governance (“MCCG”) with regards to the recommendations
stated under each principle for the year under review and should be read in conjunction with the Corporate Governance
Report which accessible online at
www.fima.com.my.
CORPORATE GOVERNANCE FRAMEWORK
The diagram below illustrates the Company’s current corporate governance framework. It shows the relationship between
the Board, its Committees, the Group Managing Director (“Group MD”), senior management and various independent
assurance functions.
PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS
I.
BOARD RESPONSIBILITIES
Role and Responsibilities of the Board
The Board is responsible for the overall strategy, governance and performance of the Company. The general powers
of the Board and the Directors are conferred in the Company’s Constitution. The Board Charter sets out the role and
responsibilities of the Board, describes those matters expressly reserved for the Board, and those matters delegated to
management. Among the specific matters reserved for the Board are:
• review and approve annual financial statements and quarterly financial results.
• contribute to management’s development of the Company’s strategy and plans, and ultimately approving operating
budgets and monitoring performance.
• approve director’s appointment to the Board and Board Committees.
Annual Report 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
88