Fraser & Neave Holdings Bhd Annual Report 2020

115 ANNUAL REPORT 2020 04 governance III. REMUNERATION 1. FORMAL AND TRANSPARENT REMUNERATION POLICIES AND PROCEDURES FOR DIRECTORS RemCom Non-Independent Non-Executive Director 2 Independent Non-Executive Director 3 The Board has established the RemCom, comprising five Non- Executive Directors, three of whomare Independent Directors, to assist the Board mainly in establishing formal and transparent remuneration policies and procedures to attract and retain Directors. The RemCom is also entrusted with the role of determining and recommending suitable policies in respect of salary packages for Executive Directors, CEO and senior executives. The current salary packages comprise a combination of basic salary and a variable performance incentive to attract and retain talent in a competitive environment. There was no change in the remuneration policies and practices during the Financial Year 2020. The remuneration for Non-Executive Directors is based on a standard fixed fee, with the Chairman receiving a double amount in recognition of his additional responsibilities. An additional fee is also paid to Non- Executive Directors sitting on Board Committees. A meeting allowance is paid for attendance at meetings of the Board and Board Committees as well as general meetings. The Company has in force Directors and Officers insurance policy essentially covering the acts of Directors and Officers and personal accident insurance policy for Directors. Fees and benefits payable to the Company’s Directors are subject to yearly approval by shareholders at the Company’s annual general meeting. Based on the Directors’ Remuneration Policy, Directors’ fees and meeting allowances are reviewed every two years. The Directors’ Remuneration Policy and Senior Management’s Remuneration Policy are available on the Company’s website. 2. DIRECTORS’ REMUNERATION The aggregate Directors’ remuneration paid to the Directors of the Company for the Financial Year 2020 is disclosed in the financial statements. Details of remuneration paid to Directors of the Company for the Financial Year 2020 are as follows: Remuneration paid by the Company Directors Fees RM Meeting Allowances RM Benefits (Note) RM Total RM 1. Y.A.M Tengku Syed Badarudin Jamalullail 162,000 27,000 32,300 221,300 2. Mr. Lee Meng Tat 99,000 22,500 600 122,100 3. Mr. David Siew Kah Toong 104,004 22,500 600 127,104 4. Mr. Lee Kong Yip (retired on 30 September 2020) 97,500 22,500 600 120,600 5. Y.Bhg. Dato’ Sri Johan Tazrin bin Hamid Ngo 96,996 20,500 600 118,096 6. Y.Bhg. Dato’ Jorgen Bornhoft 90,000 18,500 600 109,100 7. Mr. Hui Choon Kit 99,996 22,500 600 123,096 8. Puan Aida binti Md Daud 82,500 13,500 600 96,600 9. Puan Faridah binti Abdul Kadir 84,000 14,500 600 99,100 10. Y.Bhg. Datuk Mohd Anwar bin Yahya 84,756 14,500 600 99,856 11. Y.Bhg Datuk Kamaruddin bin Taib 82,500 14,500 600 97,600 12. Madam Tan Fong Sang (appointed as an Alternate Director to Mr. Lee Kong Yip on 17 February 2020 and ceased as his alternate on 30 September 2020) 0 0 372 372 Total 1,083,252 213,000 38,672 1,334,924 Note: Benefits include personal accident insurance premium for all Directors.