MSM Malaysia Holdings Berhad Annual Report 2020

CORPORATE GOVERNANCE OVERVIEW STATEMENT Nomination and Remuneration Committee Responsibilities & Duties Chairman • Dato’ Muthanna Abdullah (appointed as Chairman with effect from 10 June 2020) Member • Datuk Dr Abd Hapiz Abdullah (appointed as Member with effect from 10 June 2020) • Dato’ Rosini Abd Samad (appointed as Member with effect from 10 June 2020) • Dato’ Amir Hamdan Hj Yusof (appointed as Member with effect from 12 January 2021) • Review the composition of the Board, the Board Committees, the directorship in Group and the Group Top Management • Review the processes for nomination and election, appointment, reappointment and re-election • Evaluate the contribution and commitment of Directors • Review the Board assessment/AGRC term of office and performance • Review succession planning • Review the Remuneration Policy, all remuneration matters and other general remuneration matters across MSM Group • Review remuneration of the Non-Executive Directors, GCEO and Top Management Details of the NRC Report is set out on pages 99 to 106 of this Annual Report Investment andTender Committee Responsibilities & Duties Chairman • Datuk Dr Abd Hapiz Abdullah (appointed as Chairman with effect from 10 June 2020) Member • Choy Khai Choon • Datuk LimThean Shiang • Dato’ Haris Fadzilah Hassan (All members were appointed with effect from 10 June 2020) • Ensuring that MSM has in place optimum frameworks, mechanisms, policies and procedures for effective investment and procurement undertakings and activities • Review proposals related to new investments, divestments and procurements of the Group in line with MSM’s prevailing related policies and procedures • To make its recommendations on the abovementioned to the Board The Group’s Investment and Divestment Matters • Review and recommend to the Board the Group Investment Policy • Review and recommend to the Board, the specific initiatives, projects and potential investments and divestments proposed by Management to achieve the approved Group Strategic Plan • Review the Group’s investment portfolio and assess the performance of the Group’s investments in the context of business and operational performance as well as changing market environment • Review emerging risk and opportunities, market outlook (i.e. market study and market analysis), economic indicators, currency market, industry/regulatory developments as well as key business developments, which may affect the investment portfolio, the Group’s investment strategy and the Group’s financial health • Review and recommend to the Board, any proposed investments and divestments, including their funding requirements including any proposed acquisition/divestment/ cessation of overseas offices The Group’s Procurement Matters • Review the Group Procurement Policies & Procedure (“GPPP”), including its framework to adopt best and transparent practices in procurement and any changes to the framework and policies, for subsequent Board approval • Review and recommend procurement related items as listed in the MSM’s Limit of Authority (“LoA”) and the GPPP for subsequent Board approval • Review the efficiency and effectiveness of the Group’s centralised procurement initiatives MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 78 CHAIRMAN’S STATEMENT DELIVERING VALUE MSM OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS GROUP FINANCIAL REPORT