KENANGA INVESTMENT BANK BERHAD SUSTAINABILITY REPORT 2024 BASIS OF THIS REPORT OUR APPROACH TO SUSTAINABILITY KENANGA AT A GLANCE GOOD GOVERNANCE LEADERSHIP STATEMENTS SUSTAINABLE ECONOMIC GROWTH ENVIRONMENTAL STEWARDSHIP EMPOWERING PEOPLE AND COMMUNITIES APPENDIX 29 28 OUR APPROACH The Board understands that the responsibility for good corporate governance rests with it, and strives to adopt the principles and best practices of corporate governance and ensures that KIBB and its subsidiaries comply with the various guidelines issued by Bank Negara Malaysia (“BNM”), Bursa Malaysia Securities Berhad (“Bursa Malaysia”), and the Securities Commission Malaysia (“SC”). The Board is also committed to embed the principles and recommendations of the revised Malaysian Code on Corporate Governance (“MCCG”), issued by the SC on 28 April 2021, into the Company’s existing policies and procedures. Our Corporate Governance Framework The Group aims to ensure a balance of power and authority between the Chairman and the Group Managing Director (“GMD”) by clearly delineating their respective responsibilities in leading the Board and managing the Group’s business. The positions of Chairman, the Non-Executive Independent Director, and GMD, the highest Senior Management executive, are held by different individuals, and the GMD is not a member of the Board, in accordance with the MCCG and KIBB’s Board Charter. GOOD GOVERNANCE GOOD BUSINESS CONDUCT WHY IT MATTERS Upholding the highest standards of corporate governance and ethical business conduct reinforces our commitment to integrity, transparency, and compliance. We strengthen stakeholders’ trust and drive sustainable growth by fostering a culture of accountability as we maintain zero tolerance for financial crimes. GOOD GOVERNANCE Approach to Audit Tender Independent auditing is a crucial tool for fostering trust and confidence in our financial statements. The Audit Committee is comprised entirely of Independent Non-Executive Board Members. Our Audit Committee periodically conducts a tender process for a new audit firm, in line with BNM’s Guidelines on External Auditors. The appointment of audit firms follows a rigorous tender and selection process outlined in the Group Procurement Policy. To reinforce objectivity and independence, we rotate the audit partner handling our assurance, ensuring that no audit engagement partner serves for more than five (5) consecutive years. Board Diversity Our Board’s composition reflects a diverse range of perspectives, experiences and expertise, which has positive influence on the Group’s decision-making. Sustainability Governance Establishing a sustainability governance structure with clearly defined roles and responsibilities is essential for ensuring accountability and effectiveness in executing sustainability initiatives within the Group. The Board serves as the Group’s highest governing body, providing overarching leadership, strategy, and oversight of the Group’s approach to sustainability risks and opportunities, supported by the committees outlined below: Sustainability Governance at Kenanga Board & Management Committees Governing Body Roles & Responsibilities Board of Directors (“the Board”) The highest approval authority that oversees the implementation of sustainability initiatives, including providing stewardship, guidance and direction for the sustainability agenda for the Group while promoting sustainability through appropriate ESG considerations in the Group’s business strategies, governance and decision-making. Age Above 70 60-69 50-59 Independent Directors Nonindependent Directors Malaysian NonMalaysian 56% 11% Nationality Independence 11% 33% 33% 89% 67% For more information on our Corporate Governance, please refer to the Corporate Governance Overview Statement on pages 80 to 115 of our Integrated Annual Report 2024. Male Female 33% 67% Gender Malay Chinese Indian Ethnicity 11% 44.5% 44.5% Group Credit Committee Group Products Committee Group Outsourcing & Procurement Committee Building Committee Staff Outreach Committee Corporate Finance Senior Officer Committee Group Occupational Safety and Health Committee Group Executive Committee Group Managing Director BOARD OF DIRECTORS Group Company Secretary Group Board Risk Committee Audit Committee Group Board Digital Innovation & Technology Committee Group Governance, Nomination & Compensation Committee Shariah Committee Employees’ Share Scheme Committee Group Digital Innovation Technology Committee STAKEHOLDERS Board Committees Management Committees Group Chief Internal Audit Group Sustainability Management Committee Group Talent Committee Group Disciplinary Committee Group Risk Committee Group Operational Risk Committee Group Business Continuity Management Committee
RkJQdWJsaXNoZXIy MTc1ODMy