Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 58 PRINCIPLE A – BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) III. REMUNERATION (CONT’D) The Board has adopted the said policies as deliberated by the RC to determine the remuneration of Directors and Senior Management, which is aligned with the business strategy and long-term objectives of the Company. The Executive Directors and Senior Management are paid salaries, allowance, performance-based incentive, including bonus, and other customary benefits, as appropriate. The remuneration is set based on relevant market relativities, performance, qualifications, experience, and geographic location where the personnel is based. The salary level for Executive Directors and Senior Management takes into account, among others, the nature of the role, performance of the business and the individual and market positioning and their respective Key Performance Indicators which include ESG and sustainability considerations. The remuneration of Independent Non-Executive Directors comprises fees only. The Board ensures that the remuneration for Independent Non-Executive Directors do not conflict with their obligation to bring objectivity and independent judgement on matters discussed at Board meetings. The respective Directors are required to abstain from deliberation and voting on their own remuneration at Board Meetings. Pursuant to the MMLR of Bursa Securities, the Company is required to disclose the remuneration received by its directors, on a named basis, for the financial year under review from the Company and the Group, covering fees, salaries, bonuses, benefits-in-kind and others. Full details of such remuneration received by the Directors on a named basis are disclosed under Practice 8.1 of the Corporate Governance Report of the Company which is uploaded on the corporate website at www.frontken.com. Meetings of the Board and Board Committees During the financial year under review, the Board convened five (5) meetings whilst the Audit Committee, NC and RC held five (5), three (3) and one (1) meetings respectively. The attendance of the members at the said meetings is set out below: Name of Director Board Audit Committee NC RC Ng Wai Pin – Chairman of Board and Chief Executive Officer 5/5 N/A N/A 1/1 Dr Tay Kiang Meng – Executive Director 5/5 N/A N/A N/A Ng Chee Whye – Independent Non-Executive Director and Chairman of Audit Committee and RC 5/5 5/5 3/3 1/1 Gerald Chiu Yoong Chian – Non-Independent Non-Executive Director 5/5 5/5 3/3 N/A Koh Huey Min – Independent Non-Executive Director 5/5 5/5 3/3 1/1 YM Raja Jastina Adlina Binti Raja Arshad – Independent Non-Executive Director and Chairman of NC (appointed as a Director w.e.f. 15 August 2023 and Chairman of NC w.e.f. 24 October 2023) 1/1 N/A N/A N/A CORPORATE GOVERNANCE OVERVIEW STATEMENT (CONT’D)
RkJQdWJsaXNoZXIy NDgzMzc=