145 GOVERNANCE | CORPORATE GOVERNANCE OVERVIEW STATEMENT SUMMARY OF BOARD FOCUS FOR FYE 2024 Topic Board activity Key decisions/outcomes Strategy • Participated in Board Strategy Session. • Reviewed and discussed business and project proposals of the Group. • Reviewed project financing of the Group. • Reviewed and approved Investment Framework for businesses. √ A two-day offsite session was convened to evaluate the Group’s strategic direction and long-term priorities. The Board received an overview of the business, projected investments and opportunities. Throughout this intensive session, the Board actively steered and scrutinised the Group’s strategic direction, reviewing both budget and business plans before their approval to ensure alignment with its trajectory. √ Approved/endorsed several significant asset/ project acquisitions during the year, including making recommendations for shareholders’ approval. Approvals were also given for the necessary financing to strengthen the Group’s growth. Financial • Reviewed quarterly and full-year results and associated announcements and applicable dividend payments. • Reviewed Strategic Business Plan and Annual Operating Budget of the Group. • Reviewed Register of Recurrent Related Party Transactions, shares purchased pursuant to the renewal of share buy-back authority. • Reviewed the Group-wide Finance initiatives. √ Approved the quarterly and full-year results and associated announcements and considered and approved/ recommended the interim and final dividend payments to be paid to shareholders. Governance • Reviewed Constitution, policies & procedures and Limits of Authority of YHB and its subsidiaries, Board Charter and TORs of Board and Management Committees. • Received regular updates, such as emerging changes to regulations, listing requirements and updates/ guidance from the relevant authorities. • Reviewed Management Committees matters. • Reviewed Corporate Governance Disclosures for FYE 2024. √ Endorsed policies and procedures to support and enhance the Group’s operational efficiencies. This includes the approval of the Company’s Constitution by shareholders on 13 July 2023. √ The revision to the Board Charter includes imposing a nine-year limit on Independent Directors’ tenures without further extensions. √ Approved the establishment of the Advisory Boards, the reallocation of duties outlined within SC TOR to MC and agreed to the renaming of what is now known as the MSC. People • Reviewed the establishment of ESS2023 scheme. • Received updates on Senior Management changes. √ Undertook several key actions, including the establishment of the ESS2023 scheme as an initiative to motivate and retain existing employees and to attract prospective skilled and experienced employees to the Group. √ Received updates on the Senior Management changes during the year.
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