1) The Level and Make-Up on Remuneration
The Remuneration Committee, in its terms of reference, is tasked to assist the Board in assessing the remuneration packages of the Executive Directors and key management personnel. Majority of the Remuneration Committee members are Independent Non-Executive Directors. The Remuneration Committee members are as follows:
Chairman:
Wong Lee Keong (Executive Chairman)
Members:
Dr. Ahmad Kamal Bin Md Alif (Independent Non-Executive Director)
Leong Khai Cheong (Senior Independent Non-Executive Director)
The Executive Directors’ and key management’s level of remuneration is based on agreed targets and contribution to corporate strategy and performance. The Board, as a whole determines the remuneration packages for Non-Executive Directors and the individuals concerned abstain from discussing their own remuneration. Non-Executive Directors remuneration packages are presented to the Remuneration Committee for notation only. The Remuneration Committee met twice during the financial year with full attendance by the members.
2) Procedure
The objectives of the Remuneration Committee is to establish and recommend to the Board the remuneration structure and policy on all elements of the remuneration, terms of employment, reward structure and fringe benefi ts for Executive Directors and key management staff with the aim to attract, retain and motivate individuals of the highest quality. The approval of Directors’ remuneration rests with the Board as a whole and the individuals concerned abstain from discussing their own remuneration. The annual fees of Directors are tabled to the Board for its recommendation to the shareholders for approval at the Annual General Meeting.
3) Disclosure
Details of Director’s remuneration for the fi nancial year ended 2009 are as follows:
i) Aggregate remuneration of Directors categorised into appropriate components
| Category |
Salaries (RM) |
Fees (RM) |
Bonus & Incentive (RM) |
Benefits-in-kind (RM) |
Allowances (RM) |
Total (RM) |
| Executive Directors |
1,380,480 |
Nil |
Nil |
162,000 |
Nil |
1,542,480 |
| Non-Executive Directors |
Nil |
156,000 |
Nil |
Nil |
12,500 |
168,500 |
| Total |
1,380,480 |
156,000 |
Nil |
162,000 |
12,500 |
1,710,980 |
ii) Aggregate remuneration of Directors analysed into the bands of RM50,000 is set out below:
| Range of Remuneration (RM) |
Executive |
Non-Executive |
Total |
| Below 50,000 |
- |
1 |
1 |
| 50,001 to 100,000 |
- |
2 |
2 |
| 100,001 to 150,000 |
- |
- |
- |
| 150,001 to 200,000 |
- |
- |
- |
| 200,001 to 250,000 |
1 |
- |
1 |
| 250,001 to 300,000 |
5 |
- |
5 |
|
