Corporate Governance Report

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STOCK CODE : 0012
COMPANY NAME:Three-A Resources Berhad
FINANCIAL YEAR:December 31, 2017

OUTLINE: SECTION A – DISCLOSURE ON MALAYSIAN CODE ON CORPORATE GOVERNANCE
Disclosures in this sectio n 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 the overall decision-making authority and effective controls over the Group and plays an active role in strategic decision-making matters of the Group. Tasks that the Board carries out include reviewing and adopting a strategic plan, overseeing the conduct of business, risk management, succession planning and reviewing internal controls.

The Board has oversight on duties and responsibilities assigned to the Management and usually meet at least on a quarterly basis. The Group adopts a Chart of Authority approved by the Board for the Management to observe in carrying out its day‐to‐day functions.

There is clear and distinct separation of roles and responsibilities of the Board as set out in the Board Charter from that of the Managing Director.

The Board has set up committees to be more effective in carrying out its duties and responsibilities as follows:

  • Audit Committee
  • Nomination Committee
  • Remuneration Committee
  • Risk Management Committee
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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