Serba Dinamik Annual Report 2021

Integrated Report 2021 233 CORPORATE GOVERNANCE OVERVIEW STATEMENT 3. Remuneration The Group’s remuneration policy for its Directors is tailored to provide a remuneration package which serves to attract, retain and motivate directors of the calibre needed to manage the business of the Group. Nomination & Remuneration Committee (“NRC”) is responsible for reviewing and recommending to the Board, the remuneration package for the Executive Director of the Group. NRC composition comprises of Non-Executive Directors which majority is independent. For the Executive Director, corporate and individual performance are rewarded using an integrated pay benefits and bonus structure and reflects the competitive nature of the Group’s operations in order to contribute to its strategy. NRC also considers performance on a range of other factors, including accomplishment of strategic goals as well as regional and global corporate performance. All Non-Executive Directors are paid fixed annual director fees as members of the Board and Board Committees. In addition to the fixed annual Director fees, all Non-Executive Directors are being paid meeting attendance allowance for each Committee meeting attended. The amount of remuneration for each Non-Executive Director varies with the level of responsibilities undertaken by the individual Non-Executive Director. The fees payable to each Non-Executive Directors are determined by the Board as authorised by the shareholders. Survey data on the remuneration practices of comparable companies are taken into consideration in determining the remuneration packages for the Executive and Non-Executive Directors. The Board believes in a competitive and transparent remuneration framework that supports the Directors’ and Senior Management’s responsibilities and fiduciary duties in managing the Group to drive its long-term objectives and enhance stakeholder value. Details of the Directors’ remuneration of each Director during the Financial Year 2021 are as follows: