Page 53 - Annual Report 2021

Statement on Corporate Governance

creating the right culture through a UMH believes • Set and monitor the Group’s
strong governance Framework that a culture of strategic business objectives;
A healthy corporate culture and a • Review policies and procedures to
robust governance framework ensures transparency, ensure that its corporate conduct is
that the organisation continues to accountability and in line with the principles of integrity
run smoothly and efficiently. UMH integrity is paramount and accountability;
believes that a culture of transparency, • Review the adequacy of the Group’s
accountability and integrity is to ensuring its system of internal control
paramount to ensuring its commitment commitment towards management information system,
towards becoming a competent, becoming a competent, and compliance with applicable laws;
professionally managed and trusted • Monitor the performance of the
company acting in the best interests of professionally management and review succession
Universiti Malaya. managed and trusted planning;
company acting in and
Although UMH is not a public listed the best interests of • Assess the implementation of the
company, the company nonetheless risk management system.
endeavours to achieve the intended Universiti Malaya.
outcomes of the three key principles of the Board charter
good corporate governance which form The objectives of the Board Charter
the foundation of the Malaysian Code are to ensure that all Board
on Corporate Governance (the Code). members acting on behalf of the
Group are aware of their duties and
the Board’s Principal responsibilities responsibilities as Board members
The sustainability and growth of and the various legislations and
the Group will always depend on regulations affecting their conduct
the proper execution of the Board’s and that the principles and practices
fundamental roles, which include to: of good Corporate Governance are
applied in all their dealings in respect,
and on behalf of, the Group.

The Board Charter provides a tool
for the Board and its Committees
for consistency of procedures and
good self-governance to ensure
that decision-making process is not
only independent but is seen to be
independent.

Board of Directors
A healthy Board culture which
promotes and upholds good
governance practices will ensure
that our stakeholder’s interests are
protected. It is important for the
Board of Directors (Board) to have
a clear understanding of their roles
and responsibilities. The Board is
led by the Chairman of the Board
and is supported by the Group Chief
Executive Officer (GCEO) together

Annual Report 2021 53