Yinson Annual Report 2021

154 YINSON HOLDINGS BERHAD SECTION 06 : GOVERNANCE CORPORATE GOVERNANCE OVERVIEW STATEMENT This statement provides the view of Yinson’s Board on corporate governance (“CG”) as set out in the Malaysian Code on Corporate Governance 2017 (“MCCG”). This statement should be read together with the Company’s CG Report. The CG Report provides details on how the Company has applied each Practice as set out in the MCCG during FYE 2021. The Board acknowledges the importance of sound CG practices and believes that this improves long-term success and performance. We are committed to setting the appropriate tone at Board-level and achieving high standards of CG practices, values and business conduct across Yinson. The Board is satisfied that Yinson has complied with the provisions and applications of the main MCCG principles for FYE 2021 except for Practice 7.2 (The Board discloses on a named-basis the top five (5) senior management’s remuneration). Explanations on the application and departure of the Practice, including the related measures and timeframes to apply the departure Practices are provided in the CG Report. RESOURCES ON YINSON’S CORPORATE WEBSITE The following documents referred to within this statement are found on our Company’s website at www.yinson.com . t $( 3FQPSU t #PBSE $IBSUFS t 5FSNT PG 3FGFSFODFT GPS #PBSE $PNNJUUFFT t /PNJOBUJOH 1PMJDZ BOE 1SPDFEVSF t 3FNVOFSBUJPO 1PMJDZ BOE 1SPDFEVSF t $PEF PG $POEVDU BOE #VTJOFTT &UIJDT i$0#&w 1PMJDZ BOE 1SPDFEVSF t "OUJ #SJCFSZ BOE "OUJ $PSSVQUJPO "#"$ 1PMJDZ BOE 1SPDFEVSF t 8IJTUMFCMPXJOH 1PMJDZ BOE 1SPDFEVSF t %JWFSTJUZ 1PMJDZ BOE 1SPDFEVSF t &YUFSOBM "VEJUPST 1PMJDZ BOE 1SPDFEVSF t 4UBLFIPMEFS $PNNVOJDBUJPO 1PMJDZ BOE 1SPDFEVSF t $PSQPSBUF %JTDMPTVSF 1PMJDZ BOE 1SPDFEVSF t 4VNNBSZ PG UIF NJOVUFT PG "OOVBM (FOFSBM .FFUJOH "(. JODMVEJOH 2VFTUJPO BOE "OTXFS TFTTJPO PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS Part I - Board Responsibilities Intended Outcome 1.0 Every company is headed by a board, which assumes responsibility for the company’s leadership and is collectively responsible for meeting the objectives and goals of the company. The Board The Board is responsible for good governance within the Group’s business and the creation of long-term stakeholders’ value. To ensure effective discharge of the Board’s functions and responsibilities, the Board delegates specific responsibilities and functions to various Board Committees and Management-level Committees with a reporting structure as depicted on the next page. The function, roles and responsibilities of the Board Committees and Management-level Committees are clearly defined in their respective terms of reference, which are reviewed periodically, or as and when required.