364 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 The Board at its meeting held in March 2023, approved the NRC’s recommendation for the proposed revision to the meeting allowances and other benefits as set out in the right column of the table below: Type of Benefits Current (RM) Proposed (RM) Meeting Attendance Allowance Board Meeting 2,000/meeting No Change General Meeting 2,000/meeting No Change Board Committees Meeting 1,000/meeting 2,000/meeting Other Benefits Directors’ Training 500,000/year* 900,000/year* Note: * Annual training budget for the Board as a whole. The proposed increase in the meeting allowance aims to remunerate the Board Committees for their commitment and contribution in line with their statutory duties and the complexity of the Group’s businesses. The Board, in recognition of the importance of training in keeping the Directors informed about emerging technologies, industries and megatrends, and staying ahead of the curve, approved the recommendation of the NRC to increase the annual Directors’ training budget to RM900,000.00. In addition to the above, in determining the estimated amount of benefits payable for the Directors, various factors, including the number of scheduled meetings for the Board and Board Committees were considered. An amount of up to RM1,332,000.00 is proposed as the benefits payable to the Directors for the period from 14 July 2023 until the conclusion of the next AGM in 2024. The details of the Directors’ fees and benefits for the financial year ended 31 January 2023 are set out in the Company’s Corporate Governance Report, which is available on the Company’s website at www.yinson.com. Payment of the Directors’ benefits will be made by the Company to the respective Directors as and when incurred if the proposed Ordinary Resolution 13 is passed by the shareholders at the 30th AGM. 3. ORDINARY RESOLUTIONS 14, 15, 16 AND 17 – RE-ELECTION OF DIRECTORS WHO RETIRE IN ACCORDANCE WITH CLAUSE 96 OF THE CONSTITUTION OF THE COMPANY The profiles of the Directors who are standing for re-election as per Agenda item no. 5 is set out in the Board of Directors’ profile of the Integrated Annual Report 2023. Based on the evaluation conducted by the NRC and the outcome of the Board and Directors Effectiveness Evaluation for the financial year ended 2023 conducted by the Institute of Corporate Directors Malaysia (“ICDM”), an external consultant engaged by the Board, the Board is satisfied with the performance and contributions of the following directors, as well as their adherence to the fit and proper criteria as set out in the Directors’ Fit and Proper Policy. The Board supports their re-election based on the following justifications: i. Ordinary Resolution 14: Re-election of Mr Lim Chern Yuan as Group Chief Executive Officer/Non-Independent Executive Director With extensive experience in the operational matters of the Group, Mr Lim Chern Yuan holds the primary responsibility of managing day-to-day business operations. This includes driving profitability, managing the Company’s organisational structure, strategy, and communicating effectively with the Board. His familiarity with the Group’s business operations positions him to lead the Company’s growth trajectory, to become a global floating, production, storage and offloading (“FPSO”) operator as well as its diversification into renewables and green technologies. NOTICE OF ANNUAL GENERAL MEETING
RkJQdWJsaXNoZXIy NDgzMzc=