FGV HOLDINGS BERHAD | ANNUAL INTEGRATED REPORT 2023 109 PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS OUR GOVERNANCE AND INTEGRITY FRAMEWORK FGV has in place a robust Governance and Integrity Framework that is benchmarked against best practices and meets the changing needs of FGV’s operations. The Board ensures compliance with the Companies Act 2016 and other relevant regulations, including Bursa Malaysia Berhad’s (Bursa Securities) Main Market Listing Requirements (Listing Requirements). We strive to adhere to the MCCG 2021 and aim to align our practices with the Guidelines on Adequate Procedures for Corporate Liability as a guardrail to sustainable growth, transparency, and ethical conduct in all areas of our operations. FGV Group regularly reviews its practices to meet market standards and satisfy our stakeholders, reinforcing our commitment to excellence and trustworthiness. Operations Supporting Functions Business Divisions Corporate Centres OVERSIGHT ROLE & MANAGEMENT REVIEW KEY EXTERNAL REGULATORS & BEST PRACTICES GOVERNANCE REQUIREMENT REGISTERED COMPANY • Companies Commission of Malaysia (CCM) – Companies Act 2016 PLANTATION INDUSTRY • Malaysian Palm Oil Board (MPOB) • Malaysian Sustainable Palm Oil (MSPO) • Roundtable on Sustainable Palm Oil (RSPO) • Department of Occupational Safety and Health (DOSH) • Department of Environment (DOE) • All other industry specific related laws and regulations MAIN BOARD • Board Charter • Code of Business Practice • Code of Ethics and Conduct BOARD COMMITTEES • Nomination and Remuneration Committee (NRC) • Audit Committee (AC) • Board Governance & Risk Management Committee (BGRMC) • Investment Committee (IC) • Board Sustainability Committee (BSC) Terms of Reference GROUP CHIEF EXECUTIVE OFFICER (GCEO) GROUP MANAGEMENT COMMITTEE (GMC) • Group Chief Financial Officer (GCFO) • Division Heads • Corporate Centre Heads Company Policies Company Policies Effective Board Leadership Transparent Corporate Reporting Effective Audit and Risk Management GOVERNANCE AND INTEGRITY Governance Mechanism Control Standard Operating Procedure Standard Operating Procedure GOVERNANCE OVERSIGHT GOVERNANCE ASSURANCE GOVERNANCE PROCESS & CONTROL OTHER REGULATORS • Task Force on Climate-Related Financial Disclosures (TCFD) • Sustainability Accounting Standards Board (SASB) • International Rescue Committee (IRC) REGULATORS • Bursa Securities – Listing Requirements • MCCG 2021
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