Page 70 - HRC_Annual_Report_2023

68 About HRC Value Creation Management Discussion Leadership
& Analysis

CORPORATE GOVERNANCE OVERVIEW STATEMENT

The challenges identified in the BEA FY2023 were presented The BNRC is guided by the following principles in its endorsement
as follows: and recommendation of the remuneration to be paid to the
individual directors, which is subject to approval by the Board:
• how to leverage on company’s existing resources and
maximise potentials to achieve good profitability post (i) The demand, complexities and performance as a whole of
pandemic; the Company;
• operational volatility especially hedging risk, improving (ii) The level of responsibilities, skills, expertise and experience
profitability and meeting ESG/COP28 requirements; required;

• how to enhance the stability of senior management in (iii) That the remuneration is set at a competitive level for
order to build up a solid footing with our general staff; and similar roles and responsibilities within current market
practices by comparable companies; and
• how to enhance the effectiveness of the hedge initiatives
and practice. (iv) That any such remuneration incentives do not conflict
with the directors’ obligations to bring objectivity and
The BNRC was satisfied with the performance of the Board
and Board Committees. All Directors and Board Committees independent judgment to the Company.
provided anonymous feedback on their peers’ performance and On 8 December 2023, the BNRC reviewed, endorsed and
th
individual performance contribution to the Board and respective recommended to the Board for approval of the nomination
Board Committees. The results were collated and tabled to of Ms Li, XiaoXia as Independent Non-Executive Director and
the BNRC on 22 February 2024. her remuneration package in accordance with the Directors’
nd
Remuneration Policy.
III. REMUNERATION
The remuneration structure for positions of CEO, CFO or
The Company’s Directors’ Remuneration Policy ensures that Financial Controller (in the absence of CFO) and Head of HR or
the remuneration packages for directors are reflective of the HR Manager (in the absence of Head of HR) is overseen by the
Company’s demands, complexities, and performance as a BNRC in accordance with its TOR.
whole, as well as the skills and experience required, and in line
with the strategic objectives of the Company which rewards The Directors’ Remuneration Policy and the TOR of the BNRC are
contribution to the long-term success of the Company. available on the Company’s website at www.hrc.com.my.

For FY2023, details of the remuneration breakdown of individual directors, including fees, salary, bonus, benefits-in-kind and
other emoluments (received or to be received from the Company) are as follows:

(in RM’000)
Salaries, bonus Attendance
and salaries Directors’ fees and other
Name related benefits remuneration Total

Wang, YouDe - 738 4 742
Wang, ZongQuan - 258 4 262
Alan Hamzah Sendut - 264 4 268
Fauziah Hisham* - 174 3 177
Surinderdeep Singh - 270 4 274
Tan Sook Yee - 186 3 189
Li, XiaoXia** - 10 ***0 10
Total 1,900 22 1,922

* Fauziah Hisham resigned from the Board on 8 December 2023.
** Li, XiaoXia was appointed as Independent and Non-Executive Director on 8 December 2023.
*** Other remuneration for Ms Li, XiaoXia is RM232.26 for the financial year ended 31 December 2023.
The directors of the Company were insured against certain liabilities under a Directors’ and Officers’ liability insurance policy for
which the Company paid an aggregate sum of RM72,000.00.