FGV Annual Report 2020

219 Who We Are How We Operate How We Are Governed Additional Information Sustainability Matters Statement & Discussion By Our Leaders FAIR AND CONSIDERED REMUNERATION How We Are Governed: Remuneration In line with industry practices and response to the COVID-19 pandemic, the Board demonstrated support of financial initiatives and upon recommendation, unanimously agreed to take a 20% cut in Board fees with effect from 1 July 2020 until 31 December 2020. The Non-Executive Directors’ revised remuneration structure (excluding Directors’ fees) is set out below: The Non-Executive Directors’ remuneration package reflects the experience, expertise and level of responsibilities undertaken by the Non-Executive Directors. The Non-Executive Directors’ remuneration includes fees, benefits-in-kind and other benefits including meeting allowances. The Non-Executive Directors’ fee structure is set out in the table below: Directors’ Remuneration Summary of Non-Executive Directors’ Remuneration Policy Board Audit Committee Nomination and Remuneration Committee Board Governance & Risk Management Committee Investment Committee Board Tender Committee Special Board Committee 1 RM300,000.00 (Chairman) RM120,000.00 (Non-Executive Directors) RM 64,000.00 (Chairman) RM 32,000.00 (Non-Executive Directors) RM 35,000.00 (Chairman) RM 20,000.00 (Non-Executive Directors) RM 32,000.00 (Chairman) RM 16,000.00 (Non-Executive Directors) RM 32,000.00 (Chairman) RM 16,000.00 (Non-Executive Directors) RM 32,000.00 (Chairman) RM 16,000.00 (Non-Executive Directors) RM 36,000.00 (Chairman) RM 24,000.00 (Non-Executive Directors) Board/ Board Committees Fees Per Annum MEETING ALLOWANCE OTHER BENEFITS Non-Executive Chairman and Non-Executive Directors Non-Executive Chairman Non-Executive Deputy Chairman Non-Executive Directors • Local : RM2,000.00 • Overseas (Flight time <= 8 hours): RM2,000.00 • Overseas (Flight time > 8 hours): RM5,000.00 • Teleconferencing : RM1,000.00 • Company car allowance (RM15,000.00 per month including petrol, toll charges and car maintenance) • Driver (actual) • Club membership (RM10,000.00 per annum) • Mobile phone bills (actual) • Personal entertainment (RM24,000.00 per annum) • One (1) personal bodyguard at Chairman’s disposal within Malaysia (actual) • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum • Allowance (RM3,000.00 per month) • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum • Medical coverage of RM100,000.00 per annum • Group Personal Accident insurance coverage of RM200,000.00 per annum Special Board Committee 1 was disbanded on 24 August 2020 and its responsibilities were transferred to the Audit Committee.