CORPORATE GOVERNANCE REPORT

STOCK CODE

:

5028

COMPANY NAME

:

HeiTech Padu Berhad

FINANCIAL YEAR

:

December 31, 2021

OUTLINE:

SECTION A - DISCLOSURE ON MALAYSIAN CODE ON CORPORATE GOVERNANCE Disclosures in this section are pursuant to Paragraph 15.25 of Bursa Malaysia Listing Requirements.

SECTION B - DISCLOSURES ON CORPORATE GOVERNANCE PRACTICES PERSUANT

CORPORATE GOVERNANCE GUIDELINES ISSUED BY BANK NEGARA MALAYSIA Disclosures in this section are pursuant to Appendix 4 (Corporate Governance Disclosures) of the Corporate Governance Guidelines issued by Bank Negara Malaysia. This section is only applicable for financial institutions or any other institutions that are listed on the Exchange that are required to comply with the above Guidelines.

SECTION A - DISCLOSURE ON MALAYSIAN CODE ON CORPORATE GOVERNANCE

Disclosures in this section are pursuant to Paragraph 15.25 of Bursa Malaysia Listing Requirements.

Intended Outcome

Every company is headed by a board, which assumes responsibility for the company's leadership and is collectively responsible for meeting the objectives and goals of the company.

Practice 1.1

The board should set the company's strategic aims, ensure that the necessary resources are in place for the company to meet its objectives and review management performance. The board should set the company's values and standards, and ensure that its obligations to its shareholders and other stakeholders are understood and met.

Application

:

Applied

Explanation on application of the practice

:

The Board has established clear functions reserved for the Board and those delegated to the Management. There is a formal schedule of matters reserved to the Board for its deliberation and decision to ensure the direction and control of the Company are in its hands. The delineation of the Board's roles and responsibilities are also clearly set out in the Board Charter which serves as a reference point for Board activities and reinforces the supervisory role of the Board.

The Board is bestowed with duties and responsibilities to ensure the interest of shareholders are protected. The Board's roles and responsibilities are set out in the Board Charter which spells out as follows:

  • • Reviewing and adopting a strategic plan for the Group;

  • • Overseeing the performance of the Management;

  • • Monitoring and managing principal risks of the business;

  • • Ensuring implementation of appropriate internal controls and mitigation measures;

  • • Succession planning for senior management;

  • • Overseeing the development and implementation of a stakeholder communication policy for the Group; and

  • • Reviewing the adequacy and the integrity of the management information and internal control system of the Group.

Explanation for departure

:

Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.

Timeframe

:

:

Every company is headed by a board, which assumes responsibility for the company's leadership and is collectively responsible for meeting the objectives and goals of the company.

Practice 1.2

A Chairman of the board who is responsible for instilling good corporate governance practices, leadership and effectiveness of the board is appointed.

Application

:

Applied

Explanation on application of the practice

:

The Chairman's roles and responsibilities are established and he is primarily responsible for the effective functioning of the Board and related corporate affairs, and for formulating general Company policies and managing strategic business decisions sanctioned by the Board of Directors.

The Chairman promotes a boardroom environment that is conducive to allow for expressions of views, discussions and effective debate. In a situation of differing opinions amongst the members of the Board, the Chairman provides his unbiased views and decisions to resolve the issued concerned.

The Chairman leads the Board and Company to adhere to all relevant laws and regulations in pursuance of good corporate governance best practices.

Explanation for departure

:

Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.

Measure

:

Timeframe

:

Every company is headed by a board, which assumes responsibility for the company's leadership and is collectively responsible for meeting the objectives and goals of the company.

Practice 1.3

The positions of Chairman and CEO are held by different individuals.

Application

:

Applied

Explanation on application of the practice

:

The roles and responsibilities of CEO in the Company is assumed by the

Executive Deputy Chairman/President, Dato' Sri Mohd Hilmey Bin

Mohd Taib. The positions of the Chairman and Executive Deputy Chairman/President are held by different individuals in order to promote accountability of board's discussion and avoid unfettered powers in decision making.

The Chairman is led by Tan Sri Dato' Sri Abi Musa Asa'ari Bin Mohamed

Nor and he is responsible to lead the Board in its collective oversight of management whilst the Executive Deputy Chairman/President is primarily responsible in implementing the Board's decision and oversees the Group's business and day-to-day management.

Explanation for departure

:

Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.

Measure

:

Timeframe

:

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Disclaimer

HeiTech Padu Bhd published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 10:01:04 UTC.