StatementonCorporateGovernance
(continued)
1.0 CLEARROLESANDRESPONSIBILITIES (continued)
1.2 Roles andResponsibilitiesof theBoard (continued)
(a) Strategy andPlanning (continued)
(ii)
Review and approve management strategies and plans designed to pursue business objectives and ensure they
continue to remain prudent in the context of the objectives of the business, the economic environment, available
resources and reasonable achievability of results.
(iii)
Approve andmonitor the progress of major capital expenditure and acquisitions/divestitures.
(iv) Establish procedures for the approval of all significant acquisitions and major contracts and approve all significant
acquisitions andmajor contracts outside the ordinary course of business.
(v)
Approve 12months’ operational budgets and evaluate results against budgets in the context of business objectives,
strategies and operations plans beingpursued. Consider and approve any action/remedial plans tobe implemented.
(vi) Approve all major changes to the structure of the organisation.
(b) HumanResource
(i)
Define requiredboard competencies and number andprofile of boardmembers.
(ii)
Appoint boardmembers.
(iii)
Approve induction program for newboardmembers and on-going trainingprograms.
(iv) Ensure easy access to internal and external sources of information and advice.
(v)
Manage performance of the board as awhole and of the individual members.
(vi) Evaluate performance of seniormanagement.
(vii) Approve appointment and removal of theCompany Secretary.
(viii) Approve executive succession plans.
(c) Remuneration
(i)
Determine remuneration of Directors to ensure that they are consistent with sustainable achievement of business
objectives, prudent management of operations andprompt on-going assessments on the risks towhich the company
is exposed.
(ii)
Approve employees’ share option schemes for submission to shareholders for approval at General Meeting and any
other executive incentive schemes.
Ni HsinResourcesBerhad
(653353-W)
Annual Report
2013
15
