StatementonCorporateGovernance
The Board of Directors (“the Board”) of NHR is committed to the
principles and the recommendations in corporate governance as
set out in the Malaysian Code on Corporate Governance 2012 (“the
Code”), in order tomeet the highest standard of corporate governance
as a fundamental part of discharging its responsibilities to protect and
enhance shareholders’ value and financial performance; and safeguard
the interest of other stakeholders.
The Board is pleased to provide the following statement which
demonstrates the Board’s commitment in cultivating a responsible
organisation by instilling excellence in corporate governance standards
at all times. Unless otherwise stated, the Group has complied with the
principles and recommendations of the Code during the financial year
ended31December 2013.
1.0 CLEARROLESANDRESPONSIBILITIES
1.1 Functionsof theBoard
TheGroup is ledby an effective and experiencedBoardwith
members from different backgrounds possessing a wide
rangeof expertise. Together theybringabroad rangeof skills,
experienceandknowledgewhichgivesaddedstrength to the
leadership inmanaginganddirecting theGroup’soperations.
The Board assumes overall responsibility for strategic
direction, future expansion, corporate governance, risk
management, human resource planning and development,
investments made by the Company and overseeing the
proper conduct of business of the Group. The Board
delegates certain responsibilities to the Board Committees,
all ofwhichoperatewithindefined termsof reference toassist
the Board in the execution of its duties and responsibilities.
The respective Committees report to the Board on matters
discussed and deliberated and makes recommendations
to the Board for final decision. The Board Committees
include the Audit Committee, Nomination Committee and
Remuneration Committee. The composition of the Board
Committees are set out on page 18 of this Annual Report.
Key matters reserved for the Board’s approval include the
annual business plan and budget, dividend policy, business
continuity plan, issuance of new securities, business
restructuring, expenditure above a certain limit, disposals
of significant fixed assets and the acquisition or disposal of
companieswithin theGroup.
1.2 Roles andResponsibilitiesof theBoard
The principal responsibilities of the Board include the
following:
(a) Strategy andPlanning
(i)
Establish overall business objectives and consider
whether they continue to be appropriate in the
context of business opportunities beingpursued.
Ni HsinResourcesBerhad
(653353-W)
Annual Report
2013
14
