Chemical Company of Malaysia Berhad Annual Report 2019

4. Ordinary Resolution 8 – Directors’ Fees The structure of Board of Directors’ Fees for the holding company as set out below had been implemented since 2012 while the Board Committees’ Fees had been implemented since 2010. Position RM per Annum Chairman of the Board 100,000 Member of the Board 75,000 Chairman of Board Committee 10,000 Member of Board Committee 8,000 Section 230(1) of CA 2016 provides amongst others, the “Fees” of the directors and “any benefits” payable to the directors of a listed company and its subsidiaries shall be approved at a general meeting. At the 57 th AGM of the Company held on 28 May 2019, the shareholders had approved RM1,000,000 as total Directors’ Fees payable to the Directors of the Company from the conclusion of the 57 th AGM on 28 May 2019 until the conclusion of the 58 th AGM of the Company. The total Directors’ Fees incurred were as follows: Approved at last AGM (from 28 May 2019 until conclusion of 58 th AGM) (RM) Forecasted (from 28 May 2019 until conclusion of 58 th AGM) (RM) Company 1,000,000 911,428 Group 1,000,000 911,428 With respect to the proposed total Directors’ Fees from the conclusion of the forthcoming AGM which has been scheduled to be held on 15 June 2020 until the conclusion of the next AGM of the Company in 2021, the remuneration structure as approved since 2012 shall remain. Assuming that the total number of Directors and Board Committees as well as the members of the Board Committees remain the same, the total Group Directors Fees is estimated at RM1,000,000 . This resolution, if passed, will facilitate the payment of Directors’ Fees on current financial year basis until conclusion of the next AGM in 2021. 5. Ordinary Resolution 9 – Directors’ Benefits (excluding Directors’ Fees) The directors’ benefits (excluding Directors’ Fees) comprise allowance and other emoluments/ benefits payable to the Chairman and the Non-Executive Directors at Board and Board Committee level. The current Board Remuneration Policy is set out below: Description Chairman Member Meeting allowance (RM per meeting) Board of CCM 1,300 1,000 Board Committee of CCM 1,200 1,000 Board Task Force/Working Group of CCM 1,000 1,000 Board of listed subsidiaries 700 500 Board of unlisted active subsidiaries 300 300 Other benefits Parking and other claimable benefits Note: The Group Managing Director does not receive any Directors’ Benefits other than those specified in her service contract. BUSINESS OVERVIEW GOVERNANCE STRUCTURE 225 ANNUAL REPORT 2019 FINANCIAL STATEMENTS OTHER INFORMATION