Key Focus Areas and Future Priorities The Board has identified the following key areas for future priority:- 1. Effective delivery of key strategic priorities which are developed based on the six (6) strategic pillars; namely Sustainable Prosperity, Values-based Culture, Community Empowerment, Customer Centricity, Real Economy and Digitalisation. 2. Addressing sustainability risks in an integrated and strategic manner to support BIMB’s long-term strategy. 3. Implementing effective succession planning for the NEDs and Senior Management within the Group. 4. Strengthening the Group culture and governance. Board Leadership An effective Board is key to the establishment and delivery of a company’s strategy. The Board therefore continually seeks to improve its effectiveness by providing direction to the Management, demonstrating ethical stewardship and creating a performance culture that drives value-creation among others. Through effective leadership and overall oversight of Management, the Board ensures robust monitoring of performance and conformance capabilities in the organisation. All Board members discharge their duties and responsibilities at all times as fiduciaries in the best interest of BIMB. They act with integrity, led by example, exercise their powers for a proper purpose and in good faith. In directing or managing BIMB’s business and affairs, they exercise reasonable care, skill and diligence by applying their knowledge, skill and experience. Imperative to the Board’s oversight responsibility is its commitment to the Group’s long-term strategy and agenda for the integration of sustainability into the Group’s corporate strategy governance and decision-making. Together with Management, the Board takes responsibility for the governance of sustainability in the Group. Board’s Responsibilities and Duties The Board is entrusted with the overall governance of BIMB, the responsibility to exercise reasonable and proper care of BIMB’s resources in the best interests of its shareholders as well as to safeguard its assets. The Board directs and oversees the business and affairs of the Group by periodically reviewing and approving the overall strategies and significant policies of the Group. In discharging its collective responsibilities, the Board provides BIMB with stewardship, counsel and a broad range of expertise to the Management, champions good governance, high ethical standards and practices. The Directors are aware of their collective and individual responsibilities to the shareholders for the manner in which the affairs of BIMB are managed, controlled and operated. Based on the results of the Board Effectiveness Evaluation 2021, the Board is satisfied that it has fulfilled these duties and obligations during the financial year under review. The Board acknowledges that the long-term success of the Group and continued relevance hinge on the prosperity and trust of the communities it serves and the well-being of the environment it operates in. This is crucial to the Board due to the increasing impact of sustainability and the ability of the Group to create sustainable value and maintain the confidence of its stakeholders. The Board remains committed to improving the Group’s sustainability practices beyond the minimum regulatory requirements. The Board has been closely monitoring the impact of COVID-19 on the global economy and the Group’s financial performance since its onset in 2020. The pandemic presents to the Board a complex new reality that changes the governance model which has guided the Board and Management through the years. New pressures and demands from stakeholder groups together with the general welfare of the Group’s employees were some of the challenges the pandemic presented. INTEGRATED ANNUAL REPORT 202 1 Key Messages Overview Value Creation MD&A Sustainability Leadership Accountability Financial Additional Information 165
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