FGV Annual Report 2018

58 REINFORCED OUR STANDARDS OF GOVERNANCE FGV HOLDINGS BERHAD OUR GOVERNANCE AND INTEGRITY FRAMEWORK In line with the Board’s commitment, FGV has now adopted a new Governance and Integrity Framework. The revised Governance and Integrity Framework clarifies further the chain of command, delegation of authority, accountability and decision-making process of the Group. The Board ensures that the Group and its subsidiaries comply with the requirements of the Companies Act 2016 and any other legislative requirements such as the Main Market Listing Requirements (Listing Requirements) of Bursa Malaysia Securities Berhad (Bursa Securities), adherence to the guiding principles of the Malaysian Code on Corporate Governance 2017 (MCCG 2017), in alignment with the Guidelines on Adequate Procedures for Corporate Liability, and any others within the ambit of the Governance and Integrity Framework, with the intent to safeguard our Shareholders ’ best interest. FGV GOVERNANCE AND INTEGRITY FRAMEWORK E f f e c t i v e T r a n s p a r e n t E f f e c t i v e A u d i t a n d B o a r d L e a d e r s h i p C o r p o r a t e R e p o r t i n g R i s k M a n a g e m e n t C o n t r o l M e c h a n i s m G o v e r n a n c e Governance and Integrity S t a n d a r d O p e r a t i n g P r o c e d u r e S t a n d a r d O p e r a t i n g P r o c e d u r e C o m p a n y P o l i c i e s C o m p a n y P o l i c i e s Business Sectors Operations Corporate Centres Supporting Functions GOVERNANCE PROCESS & CONTROL REGISTERED COMPANY • Companies Commission of Malaysia (CCM) - Companies Act 2016 PLANTATION COMPANY • Malaysian Palm Oil Certification Council (MPOCC) - Malaysian Sustainable Palm Oil Certificate (MSPO) • Roundtable on Sustainable Palm Oil (RSPO) PUBLIC LISTED COMPANY • Bursa Securities - Bursa Securities Listing Requirements • MCCG 2017 EXTERNAL REGULATOR & BEST PRACTICES GOVERNANCE REQUIREMENT OVERSIGHT ROLE & MANAGEMENT REVIEW MAIN BOARD • Board Charter • Code of Business Practice • Code of Ethics and Conduct BOARD COMMITTEES • Terms of Reference GROUP MANAGEMENT COMMITTEE TOP MANAGEMENT • GCEO • GCFO • Sector Heads • Corporate Centre Heads GOVERNANCE ASSURANCE GOVERNANCE OVERSIGHT GOVERNANCE AT FGV: LEADERSHIP AND EFFECTIVENESS