Corporate Governance

 

 

 

TERMS OF REFERENCE

  1. Introduction

    The Committee is established by the Board to develop a policy on the remuneration of Directors, CEO and Executive Chairman under conditions of objectivity and transparency.

  2. Reporting

    The Committee reports to the Board of Directors.

  3. Objective

    The Remuneration Committee (RC) shall be responsible for developing a formal and a transparent policy and framework on the remuneration of Directors, CEO and Executive Chairman in the Menang Group for the Board’s approval.

  4. The RC will take into consideration the following:
    • Ensure the remuneration supports the Group’s objectivity, culture and strategy.
    • Remuneration and employment conditions of the industry and market as a whole.
    • The Group’s performance
    • Individual’s performance against established criteria and performance related elements; his or her responsibility and accountability.
    • The remuneration for non-executive directors must be in line to the level of contribution, taking into account factors such as effort and time spent and the responsibilities entrusted.
    • The remuneration for each board member to be based on level of expertise, knowledge and experience.
    • The policy to cover directors’ fee, salaries, allowances, bonuses, options and benefits-in-kind and termination/retirement benefits.
  5. Others
    Evaluation/Review

    The RC shall meet at least once a year to review the remuneration packages of the Directors, CEO and Executive Chairman.

 

REMUNERATION COMMITTEE
MEMBERS OF REMUNERATION COMMITTEE
Dr. Christopher Shun Kong Leng (Chairman)
Mr. Chiam Tau Meng
Mr. Leou Thiam Lai