Shaped By High Standards Of Governance ANNUAL INTEGRATED REPORT 2022 133 PRINCIPAL BOARD ACTIVITIES WHAT THE BOARD DID THIS YEAR Board activities are organised to approve, oversee and support executive management in the delivery of the Group’s strategy within FGV Group Governance and Integrity Framework. Key matters considered by the Board in 2022 were as follows: Strategy, Risk and Sustainability • Options to Address the Non-Compliance of the Public Shareholding Spread Requirements • SAJI Cooking Oil to increase its Market Share • Holistic Approach on Nutritional Management of Oil Palm • Board Strategic Direction by Boston Consulting Group (BCG) • Business Plan 2022-2024 (BP24) Key Strategic Initiatives (KSI) Q1 2022 Performance Scorecard Update • Transformation Blueprint • Consumer Products Operating Model (CPOM) • Consolidation of Research and Development Activities • Expansion of Fortified Organic Fertiliser (FOF) Production • Updates and Required Action on Withhold Release Order (WRO) by the United States (US) Customs and Border Protection (CBP) • Business Plan 2023–2025 (BP25) • Scenario Analysis: Russian Invasion of Ukraine • Independent Limited Assurance Statement for Sustainability Report 2020/2021 • Strategic Review by A.T. Kearney on FGV’s Way Forward Plan in the Consumer Products Space Governance • CG Report • Whistleblowing Committee ToR for Senior Staff (Vice President and Above) and Board of Directors • FGV Governance and Integrity Framework • Revision of Corporate Responsibility Policy • MACC-CIGO Meeting Key Highlights Reiteration • FGV Integrity Assessment Tool Survey Results by Institut Integriti Malaysia • Schedule of FGV Board Meetings for the Year 2023 • Material Litigation Updates within the Group • Internal Investigations Report Financial • Budget 2022 for FGV Group • FGV’s Statutory Financial Statement for the Financial Year Ended 31 December 2021 • Quarterly Report on Consolidated Results for 2022 • Final Dividend for the Financial Year Ended 31 December 2021 • Renewal of Shareholders’ Mandate and New Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature • Fee for Statutory Audit and Quarterly Review for FGV and Its Group of Companies for Financial Year 2022 • Revision to FGV Group’s LoA – Legal • Budget 2023 for FGV Group • Re-appointment of External Auditors for the Financial Year Ending 31 December 2022 • Provision for Migrant Workers’ Recruitment Fee • FGV Annual Integrated Report 2021 • Review of Internal Audit Report Investments and Divestments • Restructuring of Pontian United Plantations Berhad (PUP) • Way Forward of FGV’s North American Oleochemical Business • Guidelines on Materiality Assessment for Public Disclosure on Non-Binding Business Collaboration Agreements • Joint Venture to Develop an Integrated Dairy Farm Business Succession Planning, Appointments, Remuneration and Others • 2021 Performance Bonus Framework • Special Ex-Gratia Payment for Employees • Appointment of Chief Human Capital Officer (CHCO) • Appointment of Group Divisional Directors • Revision of Non-Executive Directors’ Remuneration Framework • Appointment of Head, Group Secretarial and Company Secretary • 2022 Key Performance Indicators (KPIs) and Job Description for Group CEO • Appointment of New Independent Non-Executive Director • Change of Nominees in FGV Group • Annual Assessment on the Independence Status of the Independent Directors • Performance Measurement Score and Performance Bonus Payout to Employees of FGV Group • Re-alignment of Scorecard and KPIs Setting to the Principles of Balanced Scorecard • Board Effectiveness Assessment (BEA) • Salary Increment for Employees of FGV Group • Revision of Composition of the Board Committees • Appointment/re-appointment of Government Appointed Directors • Re-election of FGV Directors • Renewal of Contract of Senior Management Board Leadership and Effectiveness Principle A:
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