145 GOVERNANCE BOARD APPOINTMENTS The NRC regularly reviews the balance of skills, knowledge, experience, and length of service of the Board members. This review is conducted in accordance with the recommendations of MCCG 2021 and the Corporate Governance Guide (4th Edition) of Bursa Malaysia Securities Berhad. In identifying suitable qualified candidates, the NRC takes into consideration independent sources, such as the Women Directors’ Registry and ICDM. The NRC conducts a rigorous and transparent selection process for the appointment of new Directors, including proper screening and evaluation of candidates, in accordance with the Directors’ Fit and Proper Policy. REMUNERATION The Board, with the assistance of the NRC, holds a primary responsibility for overseeing remuneration and related policies and ensuring that incentives and awards are aligned with the Group’s strategic objectives and culture. The NRC ensures that remuneration arrangements are transparent and promote effective engagement with shareholders and the workforce. To achieve this, NRC ensures that remuneration structures are simple, clear, and easily understood by all parties involved. The structure of the fees/allowances payable to the Directors of the Company for FYE 2023 is as follows: *Annual training budget for the Board as a whole The details of the Directors’ remuneration for FYE 2023 are disclosed in the Corporate Governance Report, which is available on the Company’s website at www.yinson.com. TYPES OF FEES/ALLOWANCES RM Board fees Non-Executive Director/Independent Director 200,000/annum Executive Director 50,000/annum Chairman of the Board 60,000/annum AC/BRSC fees Committee Chairman fees 30,000/annum Committee Member fees 20,000/annum Other Board Committees fees Committee Chairman fees 20,000/annum Committee Member fees 10,000/annum Meeting attendance allowance Board Meeting and General Meeting allowances 2,000/meeting Board Committees Meeting allowances 1,000/meeting Other benefits Directors’ Training 500,000/year* Selection & appointment process The NRC oversees the screening and selection of new Directors as follows: Analyse and identify needs of the Board Source candidate Shortlist candidate for interview Appointment process Board approval Induction programme Conduct interaction with candidate Due diligence/ assessment process Nominate candidate to the Board CORPORATE GOVERNANCE OVERVIEW STATEMENT
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