Page 214 - MSM_AIR2021

212 MSM MALAYSIA HOLDINGS BERHAD WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOW WE OPERATE
ANNUAL INTEGRATED REPORT 2021

CORPORATE GOVERNANCE

OVERVIEW STATEMENT

Application of MCCG 2021

With the revised MCCG 2021, MSM has four (4) departures for financial year 2021 (FY2021). The details on how the
Company had applied each practice as set out in the MCCG during the FY2021 can be found in the Company’s Corporate
Governance Report 2021 (CG Report 2021) which is available on the Company’s corporate website. The summary of explanations
on the departures are in the table below:

Departed Practice Summary Explanation for Departure

Practice 4.4
Performance evaluations of the board and senior There was no material sustainability risks and opportunities
management include a review of the performance of the element in the Senior Management performance indicator
board and senior management in addressing the company’s
material sustainability risks and opportunities
Practice 5.9
The board comprises at least 30% women directors There was no indication of 30% or any percentage for women
director in the Board Nomination and Election Policy and
Procedures of MSM. As at 31 December 2021, MSM Board
comprised of seven (7) male Directors and two (2) female
Directors (22% female representation)

Practice 5.10
The board discloses in its annual report the company’s policy There was no policy on gender diversity for Senior Management.
on gender diversity for the board and senior management The application on gender diversity for Senior Management is
premised on merit based selection and appointment along a fair
and equitable consideration and deliberation for qualification,
experience, skills, intelligence and empathy
Practice 9.2
The Audit Committee has a policy that requires a former The existing AGRC’s Terms of Reference and External
partner of the external audit firm of the listed company to Auditor Policy stated that a former key audit partner must
observe a cooling-off period of at least three years before observe a cooling-off period of at least two years before being
being appointed as a member of the Audit Committee appointed as a member of the AGRC. Currently, there is no
former key audit partner sitting on the AGRC