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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 237

The current composition is in compliance with the requirement MEETING
of Paragraph 15.08A (1) of the Main Market Listing
Requirements (Listing Requirements) of Bursa Malaysia NRC meetings are chaired by its Chairman, an Independent
Securities Berhad (Bursa Securities) and in line with Practice Non-Executive Director, who is responsible for the conduct
5.8 of the Malaysian Code on Corporate Governance 2021 of meetings. NRC is required to conduct its meeting at least
(MCCG 2021) which recommends the NRC is chaired by an three (3) times annually.
Independent Director or the Senior Independent Director.
In order to facilitate NRC members’ time planning,
The Board believes that the current NRC composition provides NRC meetings held during the FY2021 were scheduled and
the appropriate balance in terms of skills, knowledge and approved in November 2020. In addition to the scheduled
experience to promote the interests of all shareholders and to meetings, Chairman also called for meetings as and when
meet the needs of the Group. required.
During the FY2021, NRC held a total of nine (9) meetings.
Out of the total, four (4) meetings were unscheduled
Roles of the Committee meetings. The attendance at all NRC meetings met the
requisite quorum as stipulated in NRC’s TOR.
The Committee is responsible:
• to review the composition of the Board, evaluate the SUMMARY OF ACTIVITIES OF THE NOMINATION
balance of skills, knowledge, experience and diversity of AND REMUNERATION COMMITTEE FOR THE
the Board FINANCIAL YEAR 2021
• to review the performance and effectiveness of the Board Due to COVID-19 pandemic, all NRC meetings for the year
• to set the remuneration policy for the Directors and the 2021 were held virtually. The meetings were attended by
employees of MSM Group Group Chief Executive Officer together with Head of Human
Resources. The Group Chief Operating Officer and Chief
• to lead the process for the appointment of new Directors
to the Board and make appropriate recommendation to the Financial Officer will attend the meetings upon invitation.
Board The summary of matters discussed and deliberated by
NRC were as follows:
Further details of the roles of NRC are provided in the
Terms of Reference which is available at Company’s corporate Nomination and Election Process
website at www.msmsugar.com. a. Reviewed and selected the candidates for the position of

Group Chief Executive Officer and Group Chief Operating
TERMS OF REFERENCE Officer of MSM Malaysia Holdings Berhad

NRC is governed by its own Terms of Reference (TOR) which b. Reviewed the proposal for the renewal of contract of the
was established pursuant to the Listing Requirements and Chief Financial Officer
was approved by the Board. The TOR is reviewed periodically
between one (1) to three (3) years, as and when required c. Reviewed the re-election of retiring directors at the 2021
especially when there are changes to the Listing Requirements Annual General Meeting
and MCCG.
d. Reviewed the re-appointment of Independent Directors
upon completion of the three (3) years tenure
The NRC TOR is published in the Company’s
corporate website at http://www.msmsugar.com/ e. Reviewed and evaluated the Performance Assessment
our-company/corporate-governance of the Audit, Governance and Risk Committee and its
members