Fraser & Neave Holdings Bhd Annual Report 2020

106 FRASER & NEAVE HOLDINGS BHD Dear Shareholders, On behalf of the Board of Directors, I am pleased to present the Fraser & Neave Holdings Bhd’s Corporate Governance Overview Statement. This Statement reinforces our unwavering commitment to ensure that the highest standards of governance are embedded in the way our business is managed. As a Company, we are resolute in delivering strong long-term returns to our shareholders. Our ability to do this has largely been premised on these important principles of good governance – i.e. accountability, transparency and integrity in the conduct of our business. Our corporate governance framework encompasses a robust decision-making process and a clear framework within which decisions aremade, delegated and executed with clear accountability across all levels. Through the governance framework, the Board can review and guide the Company’s strategy and ensure its effective implementation by consistently monitoring business performance. In discharging its duties and responsibilities effectively, the Board is supported by various Board Committees each with specific authority and clear Terms of Reference. The Board retains the ultimate responsibility for decisions made by the Board Committees and reserves certain key matters to itself for approval. I am especially pleased that the unwavering commitment to good governance has resulted in the Company being recognised and acknowledged. We have been included in the FTSE4Good Bursa Malaysia (F4GBM) Index for the second year and our efforts to build trust with stakeholders through transparency, quality and relevance of our disclosures has been rewarded with the NACRA Industry Excellence Award for the Consumer Products and Services category in December 2019. In the following pages, you will find more details of our work throughout the financial year and illustrations of our commitment to deliver transparent and sustainable value to all our stakeholders. As of the date of this report, I ampleased to inform that the Company has complied with the principal Practices set out in the Malaysian Code on Corporate Governance (MCCG) 2017, the relevant provisions of the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Malaysia), the Companies Act 2016, the Corporate Governance Guide – 3rd Edition issued by Bursa Malaysia, in addition to benchmarking our practices against the ASEAN Corporate Governance Scorecard. The status of the Company’s application is explained in the Corporate Governance Report, which is accessible to the public on the Company’s website at www.fn.com.my . Chairman's Introduction To Corporate Governance