2020 UEM Edgenta Annual Report

held an engagement session with the MACC on ‘Cultivating Integrity & Eradicating Corruption’. The aim was to ensure we remain up-to-date with applicable laws, regulations and best practices. DIVIDEND POLICY The Company will continue to uphold our dividend policy of 50% to 80% of Profit After Tax And Non-Controlling Interest (“PATANCI”), which will be derived from a diversified business and commercial income base, operating under a leaner, more efficient organisation structure. In FY2020, due to the unprecedented impact of the COVID-19 pandemic to our operations for both our healthcare and infrastructure divisions and our financial performance, the Management made a prudent decision to preserve our cashflow and withheld dividends for the year. However, we remain committed to returning to our dividend policy as a key priority in FY2021. We will continue to enhance shareholder value through executing our strategies for our refreshed business model which is expected to build a more sustainable future-proof business. OUR APPRECIATION On behalf of my fellow Directors on the Board and the Management, I would like to thank Dato’ Azmir Merican, who retired as MD/CEO of UEM Edgenta, for his leadership and dedication. We wish Dato’ Azmir all the best in his future endeavours. Let me take this opportunity to also welcome Syahrunizam Samsudin, who came on board on 1 July 2020 as the MD/CEO of UEM Edgenta. With his wealth of experience in technology and engineering management, we are excited to see UEM Edgenta’s next phase of growth. reached out by helping to disinfect prisons, mosques and other places of worship; providing financial assistance to veteran fire fighters; and supplying essentials to the underprivileged. These efforts mirror our belief that we have a responsibility to the community as we continuously reaffirm our social citizenry. We feel privileged to have been able to use our resources to make a meaningful difference to lives around us and will continue to enhance our contributions in the years to come. OUR COMMITMENT TO GOOD CORPORATE GOVERNANCE We recognise that good corporate governance is essential in supporting our businesses to execute their strategies, generating long-term shareholder value and sustainable financial performance as well as safeguarding our stakeholders’ interests. The Company upholds the highest standards of transparency, accountability and integrity in managing our businesses and are taking proactive measures to further enhance our corporate governance framework. A particular area of focus during the year was ensuring readiness to meet the requirements of Section 17A of the Malaysian Anti-Corruption Commission (“MACC”) Act 2009. The Act, enforced on 1 June 2020, was amended to introduce corporate liability for corruption offences of commercial organisations. While our policy is clear, in that we do not tolerate acts of bribery or corruption in any aspect of our business, we have taken the necessary steps to reinforce awareness, strengthen due diligence procedures, review controls, and identify potential corruption risks as well as put in place adequate mitigation measures. In further building a culture of integrity and compliance in the Company, our Risk, Integrity & Compliance Department, in collaboration with Edgenta Academy, Additionally, I would like to express our gratitude to our valued shareholders, for your faith and support in our business and operations; to our clients, for your continued trust in our ability to provide innovative solutions and deliver on projects; and to our business associates, partners and financiers, for your confidence in our business. To our workforce, and especially our front liners, thank you for your dedication and commitment. And finally, to my colleagues on the Board, thank you for your good judgement and counsel. The Board is optimistic about the future of UEM Edgenta and we will continue to strive to build a more competitive, resilient and sustainable UEM Edgenta. TAN SRI DR. AZMIL KHALID Independent Non-Executive Chairman ANNUAL REPORT 2020 37 1 2 3 4 5 6 7 8