BOARD FUTURE PRIORITIES The Board has identified its priorities and focus areas for 2025 as follows: CORPORATE GOVERNANCE PRIORITIES The following matters are the governance areas discussed by the Board and key focus areas for the future, to be addressed and/or implemented in 2025:- BOARD EFFECTIVENESS EVALUATION (BEE) The effectiveness of the Board is vital to the success of the Group. The Board is cognisant that periodic evaluations provide an opportunity to gain valuable shared insights into its operation and ways to improve processes, relationships, and composition. A well-executed BEE identifies opportunities to enhance performance and adopt best practices. In compliance with Paragraph 15.08A(3)(c) of the Listing Requirements, Practice 6.1 of the MCCG 2021, and the Board Nomination and Election Policy and Procedures (BNE Policy), the BEE serves as a pivotal tool to gauge the overall effectiveness of the Board, its Committees, and individual Directors. This evaluation encompasses various dimensions, including assessing the Board as a whole, Directors’ tenure, the independence of Independent Directors, performance in addressing material sustainability risks and opportunities, and evaluating the performance and tenure of the AC and its members vis-à-vis the AC’s ToR as well as other board committees. Additionally, when assessing a Director’s eligibility for re-election at the AGM, the competencies, commitment, contribution, and performance based on the BEE for the year under review are taken into account. The Board will continue its efforts to strengthen the Group’s corporate governance standards and foster a culture that promotes ethical conduct, transparency, and sustainable value creation, with the ultimate goal of realising long-term shareholder value while considering the interests of other stakeholders. Corporate Governance Overview Statement PRINCIPLE A CORPORATE GOVERNANCE HIGHLIGHTS in 2024 FUTURE GOVERNANCE PRIORITIES in 2025 Revision of Group Sustainability Policies, Group Procurement Policies, and Enhancements to the Business Continuity Management Policy Renewal of FGV’s Anti-Corruption Plan Establishment of Gender Diversity for Top And Key Management Policy Striving for excellence in Ethics, Transparency, and Integrity Transformation and Enhancement of Risk Management, Accountability and Controls Strengthening Compliance with ESG Requirements Leadership visibility and action-oriented Plantation operational excellence Low-yielding prime areas and estates under rehabilitation Engagement with CBP to lift the WRO sanction Streamlining the equity structure and turnaround the non-performing business Cross-border growth in the Logistics & Support, Oils & Fats, and Sugar Divisions Renewable energy, product traceability, and climate change adaptation Aggressive replanting, mechanisation, and mill rationalisation Engagement with Regulators 196 FGV Holdings Berhad | Annual Integrated Report 2024
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