Applied each of the practices set out in the mccg

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applied each of the Practices set out in the MCCG during FY2018. In general, the Group has complied in principle with the MCCG throughout FY2018.
ECO WORLD DEVELOPMENT GROUP BERHAD ANNUAL REPORT 2018 52 CORPORATE GOVERNANCE OVERVIEW STATEMENT The roles of Chairman and President & CEO are held by separate persons and this facilitates a clear segregation of roles and responsibilities between them and a balance of power and authority as intended in the Board Charter. Management is responsible for managing the day-to-day running of the Group’s business activities in accordance with the direction of and as delegated by the Board. Management meets regularly to discuss and resolve operational issues. The President & CEO and Management remain accountable to the Board for the authority that is delegated and for the performance of the Group. The Board Charter which is available on the Company’s website at has been revised to reflect the recent changes to the MCCG and the MMLR of Bursa Malaysia. The Board Charter also sets out processes and procedures for convening Board meetings. The Board has appointed Mr. Tang Kin Kheong as the Senior Independent Director since 29 November 2013 to coordinate the activities of the Independent Directors. Any queries or concerns relating to the Group may also be conveyed and directed to him via email at [email protected] The Board is assisted by three board committees, namely the Audit Committee (“the AC”) , the Nomination Committee (“the NC”) and the Remuneration Committee (“the RC”) ( collectively referred to as “the Board Committees”) , which operate within their own Board-approved terms of reference (“TOR(s)”) . The TORs are reviewed and updated regularly to ensure that the latest requirements of the MCCG and the MMLR of Bursa Malaysia are incorporated. The Board Committees are tasked with overseeing and managing different aspects of the Group’s governance and compliance. The Board has also formed a Whistleblowing Committee (“the WBC”) to assist the Board in dealing with reported possible breaches of business conduct, non-compliance with laws and regulatory requirements as well as other malpractices. The Board is briefed at its meetings on matters deliberated by the Board Committees. During FY2018, the Board reviewed and revised the TORs of the AC, the NC and the RC to align them with the practices recommended in the MCCG and the amended provisions in the MMLR of Bursa Malaysia. The Board is supported by suitably qualified and competent Company Secretaries. Every Director has ready and unrestricted access to the advice and services of the Company Secretaries to ensure effective functioning of the Board and its Board Committees, adherance to Board policies and procedures at all times as well as compliance with regulations and governance practices.

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