Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 227 CORPORATE GOVERNANCE OVERVIEW STATEMENT The current benefits payable and accorded to the Directors are:- No. Description Directors’ benefits (a) Meeting allowance for ad-hoc or temporary Board Committees established for specific purposes (i) Chairman of committee – RM2,000 per meeting (ii) Member of committee – RM1,000 per meeting (b) Car allowance for Chairman of UEM Edgenta RM3,400 per month (c) Medical benefits for Board members Where a Director sits on several boards within the UEM Group of Companies, he will be entitled to claim medical benefits from one (1) company only. (i) Medical coverage of RM7,000.00 per annum, inclusive of outpatient, clinical, specialist and dental; and (ii) Hospitalisation of RM100,000.00 per annum including room and board at RM500.00 per day (d) Training and Development of Directors A training budget is allocated for Directors to attend relevant training programmes and seminars to enhance their knowledge and skills in discharging their duties. (e) Directors’ & Officers’ Liability Insurance Directors are covered by Directors’ and Officers’ Liability Insurance maintained throughout the financial year to indemnify Directors and Officers against any liability incurred by them in the discharge of their duties while holding office as Directors and Officers of the Company. (f) Subsistence allowance for business travel Peninsular & East Malaysia – RM150 per day Overseas – USD125 per day The Company will be seeking shareholders’ approval at the forthcoming annual general meeting for the payment of Directors’ benefits for items (a) and (b) of the above table. Remuneration for Senior Management The Board established a Senior Management Remuneration Framework on 25 February 2021, benchmarked against market rates. This framework aims to ensure fair remuneration for Senior Management, attracting, retaining, and motivating individuals to serve the Company effectively. The Management is enhancing the current Senior Management Remuneration Framework, with a focus on a Long-Term Incentive Plan. The revision is ongoing, considering the demands of the role, required competencies, Company performance, and individual employee performance. The Management will decide on publishing the framework on the Company’s website upon finalisation.
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