The primary objective of the Nominating Committee (“Committee”) is to establish a documented, formal and transparent procedure to support and advise the Board of Directors (“Board”) in fulfilling their responsibilities to shareholders in ensuring that the Board comprised individuals with an optimal mix of qualifications, skills and experience.
The members of the Committee shall be appointed by the Board from amongst the Directors of the Company and shall comprise at least three (3) members, all of whom must be Non-Executive Directors, with a majority of them being independent.
The Committee shall elect a Chairman from among its members and the elected Chairman shall be an Independent Non-Executive Director.
No alternate director shall be appointed as a member of the Committee. The term of office and performance of the Committee and each of its members shall be reviewed by the Board annually to determine whether the members have carried out their duties in accordance with their terms of reference.
If a member of the Committee resigns or for any other reason ceases to be a member with the result that the number of members is reduced to below three (3), the Board shall, within three (3) months from the date of that event, appoint such number of new members as may be required to make up the minimum number of three (3) members.
In fulfilling its primary objectives, the Committee shall undertakes, amongst others, the following duties and responsibilities:
Where required, the members of the Committee would meet up with potential candidates for the position of director to conduct an assessment of the suitability.
(Note: The Group practices non-discrimination in any form whether based on age, gender, ethnicity or religion throughout the organisation and this includes the selection of directors).
The Committee shall meet at least once a year and as frequently as may be required.
In the event the elected Chairman is not able to attend a meeting, a member of the Committee shall be nominated as Chairman for the meeting. The nominated Chairman shall be an Independent Non-Executive Director.
Subject to the notice and quorum requirements as provided in the Terms of Reference, meeting of the Committee may be held and conducted through the telephone or any communication equipment or device which allows all persons participating in the meeting to hear each other. A person so participating shall be deemed to be present in person at the meeting and shall be entitled to vote and be counted in a quorum accordingly.
The quorum for a meeting of the Committee shall consist of not less than two (2) members, majority of members present must be Independent Non-Executive Directors.
Unless otherwise agreed, notice of each meeting confirming the venue, time and date, together with an agenda of items to be discussed, shall be forwarded to each member of the committee, any other person required to attend and all other non-executive directors, no later than seven (7) days before the date of the meeting. Supporting papers shall be sent to committee members and to other attendees as appropriate, at the same time.
The Company Secretary or his nominee or such other persons authorised by the Board shall act as the Secretary of the Committee. The Company Secretary shall record, prepare and circulate the minutes of the meetings of the Committee and ensure that the minutes are properly kept and produced for inspection if required.
A resolution in writing, signed by a majority of the Committee members present in Malaysia for the time being entitled to receive notice of a meeting of the Committee, shall be as valid and effectual as if it had been passed at a meeting of the Committee duly convened and held. Any such resolution may consist of several documents in like form, each signed by one or more of the members of the Committee. The expressions “in writing” and “signed” include approval by telefax, telex, cable or telegram by any such member of the Committee.
A Director may participate in a Committee meeting by means of a conference telephone or any communication equipment or device which allow all persons participating at the meeting to hear and speak with each other and shall be deemed as present at such meeting.
This Terms of Reference will be reviewed and updated at least once a year to ensure it remains consistent with the Committee’s objectives and responsibilities.