Page 20 - Annual Report 2021

Overview Leadership Message Business Segment Moving Forward Our Resources Working for a Corporate Financial
Review Plan Better Tomorrow Governance Statements

CHaIrman’S mESSaGE

Earnings
PEr sHarE OF
rM1.10

During 2021, the Group successfully and reporting between the Group
achieved the following: and its subsidiaries, as well as
between the Group and the UM
• Clearly separating academic and Board of Directors, and
business activities. This will enable - Improving compliance with
UM to focus on improving its prowess accounting standards and
and ranking as a premier research professional practices.
and teaching institution, while
business is delegated to the Group • Implementing an effective
DiViDEnD OF as its designated corporate arm and organisational structure and
rM7.0M managed by professionals. strategies for greater operational
and financial efficiency. This included:
• Establishing and strengthening
corporate governance structures in - Centralisation of core management
line with business best practices. This functions such as HR, IT, Finance
included: and Legal for cost savings and
future economies of scale,
- Implementing a proper holding - Recruitment of professional
company structure to provide managers for key leadership
protection under the corporate veil, positions at both the Group and
- Ensuring a balanced Board subsidiary level,
composition comprising of both - Implementing policies and
academic and industry procedures for administration,
representatives with the right finance and human capital
expertise and experience to development, and
enhance Board effectiveness, - Ongoing review of Group
- Establishing Board Committees for subsidiaries to identify and
oversight and review of strategies address strengths, weaknesses,
and decision-making, opportunities and threats and
- Clearly defining lines of authority develop a sound business plan.

20 UM Holdings Group