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

CORPORATE GOVERNANCE

OVERVIEW STATEMENT

Non-Executive Directors

The Non-Executive Directors’ remuneration package reflects the experience, expertise and level of responsibilities undertaken by
the Non-Executive Directors.

The draft Non-Executive Directors Remuneration Policy (NEDRP) was prepared internally by Group Secretarial
Division captured the revised remuneration structure which has been approved by the shareholders at the 10 Annual General
th
Meeting of the Company in 2021. The draft NEDRP then has been reviewed by external solicitors who are specialised in human
resource fields.
The working committee comprises representatives from Group Human Resource, Company Secretary and Legal Affairs has
reviewed the draft NEDRP . The Board on 25 November 2021 through the recommendation from NRC has approved the NEDRP
for the implementation in MSM Group effective from 17 June 2021.
Details of the Non-Executive Directors’ remuneration as members of the Board and Board Committees in the form of fees
FY2021 are as follows:
Fees per annum (RM)
Board/Board Committees
Chairman Member

315,000.00 120,000.00
Board of Directors
(RM26,250/month) (RM10,000/month)
Board Committees
- Audit, Governance and Risk Committee 64,000.00 32,000.00
- Nomination and Remuneration Committee 35,000.00 20,000.00
- Investment and Tender Committee 32,000.00 16,000.00

Details of the Non-Executive Directors’ benefits in accordance with the remuneration structure (excluding Directors’ annual fees)
are set out below:

Meeting Allowance
• Board and Board Committee meeting:
RM2,000 per attendance

Benefits
• Company car (Chairman only):
- one (1) Company car of at least 2000cc with a maximum of RM180,000 per annum for utility of the car
(car maintenance, petrol, etc. which is not convertible to cash; and
• Driver allowance (Chairman only):
- RM30,000 per annum
• Medical expenses, insurance coverage, travelling expenses and other claimable

Summary of Group Chief Executive Officer Remuneration Policy

The Group CEO receives a remuneration package recommended by the NRC and approved by the Board. The remuneration
package takes into account the individual performance which are benchmarks against the Company’s targets as well as
market rate for benefits-in-kind, annual increment and bonus. The Group CEO is not entitled to annual fees nor any meeting
allowances for the Board and Board Committee meetings. Group CEO is also not entitled to any annual fees in MSM Group.