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Corporate Governance
Our Commitment
We are committed to maintaining a robust corporate governance framework that complies with local and international best practice standards.
Board Committees
The Board has established two permanent committees – an Audit Committee, and a Nomination and Remuneration Committee. These committees are responsible for reviewing the Company’s operations within their specific areas of expertise, delivering their findings and recommendations to the Board of Directors.
A high-level overview of each committee’s role, effective as of Listing, is detailed below.
Audit Committee
The Audit Committee assists the Board in:
Financial reporting, audits, and controls;
Financial statements, policies, non-audit work by external auditors, and their appointment;
External audit process and internal control review;
Ensuring the independence of the Company’s external auditors;
Seeking written confirmation from auditors on compliance with relevant independence guidelines
According to the Governance Rules, the Audit Committee must comprise of a minimum of three members who are non-executive directors of which at least two members must be independent. The Governance rules also mandate that all members should have financial and accounting knowledge, and at least one must possess practical accounting or finance experience or related qualifications. The Audit Committee will be chaired by an independent member and may include others elected by the Board.
Nomination, Remuneration and ESG Committee
The Nomination and Remuneration Committee plays a vital role in ensuring the Company’s governance remains robust. It oversees Board and executive management nominations and remuneration, with a strong emphasis on evaluating Board independence and balance of skills.
The Committee periodically reviews the Board’s structure and identifies potential independent candidates.
The Committee consists of at least three non-executive directors, with a minimum of two being independent. Its chairperson, chosen from independent members, leads the Committee.. Meetings are convened at least bi-annually, with additional sessions scheduled as per the Company’s needs.
