Page 64 - HRC_Annual_Report_2023

62 About HRC Value Creation Management Discussion Leadership
& Analysis

CORPORATE GOVERNANCE OVERVIEW STATEMENT

No Principal Responsibilities Explanation and updates for FY2023
vi. Overseeing the development The Company keeps its stakeholders updated through communications published
and implementation of a on the Company’s website and announcements made to Bursa Malaysia,
stakeholder communications including general announcements and the Company’s quarterly financial reports,
policy for the Company annual report, sustainability report and circulars to shareholders, as well as virtual
townhall meetings and employee information circulars, whenever required.
Apart from that, the Company continues to engage in active communications with
the communities near the Company’s site in Port Dickson to foster close relationships
and keep its neighbours informed on matters that may affect them.
vii. Reviewing the adequacy The management information and internal control systems of the Company are
and the integrity of the governed by the control framework approved by the Board. The framework includes
management information and management processes on risk management, controls and assurances to support
internal control systems of the Company’s business objectives to achieve excellence in three (3) areas, such as
the Company (i) the effectiveness and efficiency of operations; (ii) the reliability of internal and
external reporting; and (iii) compliance with laws and regulations.
The Board reviews the integrity of the Company’s financial and non-financial reporting
with the assistance of the BAC and the BRMC to ensure that there is a sound
framework of reporting internal controls and regulatory compliance.
The Board is also supported by the Company’s internal audit and risk and integrity
functions to ensure that internal controls and risk management are properly managed.
Further details of the risk management and internal control framework are provided
in the Company’s Statement on Risk Management and Internal Control, which is
available on page 72 of this Annual Report.

The primary roles and responsibilities of the Board and Board Committees are contained in the Board Charter and the TOR of the
respective Board Committees. They are published on the Company’s website at www.hrc.com.my.

Separation of Positions of the Chairman and laws and regulatory requirements, and assist the Board in
Chief Executive Officer applying governance practices to meet the Board’s needs and
stakeholders’ expectations.
The positions of Chairman and CEO in the Company are held by
different individuals and there is clear separation of duties and Access to Meeting Materials
responsibilities between them.
The notices and agenda of meetings and the relevant board
Mr Wang, YouDe continues to hold the position of Chairman papers are circulated to members of the Board and Board
of the Board. The Chairman presides over meetings of Directors Committees at least five (5) working days prior to the meeting
and is responsible for instilling good corporate governance in accordance with the Board Charter and the TOR of the
practices, leadership and the effectiveness of the Board. respective Board Committees. This is to ensure that sufficient
time is provided to the members to review and evaluate the
Mr Yin, Lujiang is the CEO of the Company, the principal matters to be deliberated at meetings, and request additional
executive officer primarily responsible for the operations of information or clarification from Management prior to the
the Company and accountable to the Board for the authority meetings for timely decision making.
delegated to him. He is not, and has never been, a Board member
of the Company. The Company uses an online collaborative software to facilitate
the effective distribution of board meeting materials and allow
Company Secretary
Board members to easily access, review and comment on the
The Company is supported by two (2) professionally qualified Board papers securely. Board and Board Committee members
and competent Company Secretaries who provide, amongst will raise meeting-related questions and action items for
others, advisory services to the Board on their roles and follow-up by the Management. This system enhances efficiency
responsibilities, corporate disclosures, corporate governance and communication, ensuring that relevant matters are
issues and compliance with relevant policies and procedures, addressed promptly and effectively.