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Other Committees
The Board is also supported by various committees which have been established to assist in the discharge of the Board’s
oversight functions. The committees are:
• The Committee which has been renamed as RSC on
24 July 2020, is a sub-committee of the Audit and Risk
Committee.
• Supports the Audit and Risk Committee in the
development and implementation of the Group’s risk
management and internal control framework.
• RSC is composed of Board representatives from KFima
and Fima Corporation Berhad (“FimaCorp”) (the Group’s
listed subsidiary) and members of senior management.
• RSC is supported by the Risk Management Unit (“RMU”)
which is made up of executives/management of the
respective business units. The RMU is responsible for
managing, mitigating and monitoring strategic and
operational risks at company/divisional level.
Risk Steering
Committee (“RSC”)
• Responsible for ensuring the Group’s compliance with
its continuous disclosure obligations and for overseeing
the Company’s disclosure practices under the Company’s
Corporate Disclosure Policy.
• The Committee comprises various members of Group
senior management.
Disclosure
Committee
• Deliberates on the performance and conduct of the
Group’s operating units including the status of internal
audit findings, implementation of Group policies and
examining all strategic matters affecting the Group.
• The HOD comprises of Group MD as Chairman and all
heads of divisions and support functions.
Heads of Divisions
• Project committees and teams are set up at the divisional
and operating levels by the respective management.
• The Committees and teams comply with the best
practices in good governance, subject always to the
counsel of the Board and compliance with any policy and
delegated authority limits set by the Board.
• Progress reports on the respective projects are submitted
to the Board of the subsidiary and KFima, as may be
necessary in the circumstances.
Ad-Hoc Committees
and Teams
• The GSC oversees how the Group’s sustainability
programs support business goals and aspirations, and to
monitor the progress thereof.
• Consists of representatives from the Boards of KFima and
FimaCorp and members of senior management.
• The GSC’s Terms of Reference can be found on the
Company’s website.
Group Sustainability
Committee (“GSC”)
Corporate Governance
Overview Statement
Meetings and Time Commitment
The Board meets regularly at least 4 times a year at
quarterly intervals and holds additional meetings as and
when the Board thinks appropriate. Board meetings
for the ensuing financial year are scheduled prior to the
commencement of that year to enable the Board to plan
their schedule ahead. Additional meetings are convened
in between scheduled meetings when Board’s decision is
required for urgent and important proposals or matters. All
Directors are expected to allocate sufficient time to their
role on the Board and Committees on which they serve in
order to discharge their responsibilities effectively.
Annual Report 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
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