FGV Annual Report 2020

205 Who We Are How We Operate How We Are Governed Additional Information Sustainability Matters Statement & Discussion By Our Leaders Area of Focus Matters Considered Remuneration Matters Board Assessment Induction and Continuing Education Programmes Succession Planning Policies Reviewed statements included in FGV’s Annual Integrated Report 2019 a. Assessed the implementation of Minimum Wages Order 2020. b. Cost savings initiatives - 20% reduction of Board fees and Senior Management’s car allowance from July-December 2020 and 6.67% reduction of Senior Management’s basic salary due to two-days unpaid leave per month from July-December 2020. c. Annual fees for Board and Board Committees. d. Monthly allowance of the Deputy Chairman. e. Reviewed the remuneration and benefits of employees of FGV Group. f. Performance bonus payout and merit payout to employees of FGV Group. g. Salary increment for employees of FGV Group. h. Salary adjustment of Senior Management. i. Vesting of restricted shares under the LTIP to Senior Management. j. Vesting of performance shares under the LTIP to employees of FGV Group. a. Assessed the effectiveness of the Board as whole, the Board Committees and each individual Director (BEA). b. Annual assessment on the independence of the Independent Directors. c. Assessed the Audit Committee members’ term of office and performance. Employee Productivity a. Full Time Equivalent Study. b. Job Evaluation for Benchmarked Position and Adjustment Exercise. Performance Management a. Reviewed the PMS Framework (corporate culture). b. Assessed the performance management effectiveness. a. Reviewed the report on the training programmes attended by the Board and the induction programme for newly appointed Directors. a. Proposed Succession Planning of Senior Management. a. Revision of Group Human Capital Policies and External Gift, Entertainment and Hospitality Policy. a. Reviewed the disclosure in CGOS and Corporate Governance Report relating to the following: • Board Nomination and Election Policy and Procedures having regard to the mix of skills, independence and diversity (including gender diversity) required to meet the needs of FGV. • Board balance and composition including tenure and gender diversity. • Board nomination and election process and re-election of Directors and the criteria used by the Nomination and Remuneration Committee in the selection process mapping of skills and experience. • Assessment undertaken by the Nomination and Remuneration Committee in respect of its Board, Board Committees and individual Directors together with the criteria used for such assessment. • Trainings attended by the Directors for the financial year and induction programmes, pursuant to the Bursa Securities Listing Requirements. • LTIP. • Directors’ remuneration in accordance with relevant provisions from the Bursa Securities Listing Requirements and the Companies Act 2016. b. Reviewed the disclosure in the report on the Nomination and Remuneration Committee relating to the following: • How the requirements set out in paragraph 2.20A of Bursa Securities Listing Requirements were met. • Composition of the Nomination and Remuneration Committee. • Number of Nomination and Remuneration Committee meetings held during and details of attendance of each member. • Summary ofwork and activities of theNomination andRemunerationCommittee andmatters consideredby theNomination and Remuneration Committee in the discharge of its functions and duties and how it has met its responsibilities.