Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 22 The Remuneration Committee’s primary responsibility is to review and recommend the remuneration of Directors to the Board. The Board, as a whole, determines the remuneration of the Directors and the individual Director is required to abstain from discussing his own remuneration. The Remuneration Committee meets as and when necessary. In the case of Executive Directors, the remuneration scheme is structured based on corporate and individual performance. On the other hand, Non-Executive Directors are remunerated based on their experiences and the level of responsibilities undertaken by the respective Non-Executive Directors concerned. The Remuneration Committee will make its recommendations to the Board regarding the Company’s policy on the staff remuneration by taking into consideration the salary and employment conditions within the industry and benchmarks from comparable companies. The Remuneration Committee strives to be competitive, linking staff rewards with their performance and responsibilities. The Remuneration Committee aims to directly align the interests of Directors, senior management and key executives with the interests of shareholders, to improve performance and achieve sustainable growth for the Company in the changing business environment, and to foster a greater ownership culture amongst its senior management and key executives. Directors’ Remuneration The Company’s remuneration policy for Directors is tailored to provide a remuneration package to recruit, retain and motivate individuals of the necessary caliber and quality that are required to manage the business of the Group. The Remuneration Committee carries out the annual review of the overall remuneration policy for Directors and key senior management by taking into account their contributions and respective responsibilities. Such fees were benchmarked against the amount paid by other listed companies. The Remuneration Committee reviews and recommends to the Board the remuneration of the Executive Directors. For the year under review, the aggregate remuneration of Directors paid is categorised into the following table:- Salary and Other Fees (RM) Bonus (RM) Emoluments (RM) Total (RM) Company Executive Directors 215,000 939,175 - 1,154,175 Non-executive Directors 144,000 - - 144,000 Total 359,000 939,175 - 1,298,175 Subsidiaries Executive Directors - - - - Non-executive Directors - - - - Total - - - - No. of Directors Range of Remuneration Executive Non-Executive Below RM50,000 1 3 RM200,000 – RM249,999 1 - RM250,000 – RM299,999 1 - RM300,000 – RM349,999 2 - The fees payable to the Directors for their services on Board are recommended by the Board subject to approval by shareholders of the Company at the AGM. PRINCIPLE 3 – REINFORCE INDEPENDENCE OF THE BOARD The Independent Non-Executive Directors play a leading role in the Board Committees. The Management and third parties are co-opted to the Committees as and when required. On 10 February 2017, the Company has announced the appointment of new Executive Chairman. Hence, the Executive Chairman and the Managing Director are now held by separate Director. statement of Corporate Governance (cont’d)