Director Remuneration Policy

1. Introduction

This policy sets out the criteria to be used in recommending the remuneration package of Directors, Group Chief Executive Officer (“Group CEO”) and senior management of PMB Technology Berhad (“PMBT” or the “Company”) and is in line with the best practice provisions of the Malaysian Code on Corporate Governance (MCCG) 2012.

 

2. Objectives

2.1 This policy is designed to:

2.1.1. determine the level of remuneration package of Directors, Group CEO and senior management.

2.1.2. attract, develop and retain high performing and motivated Directors, Group CEO and senior management with a competitive remuneration package;

2.1.3. provide a remuneration such that the Directors, Group CEO and senior management are paid a remuneration commensurate with the responsibilities of their position; and

2.1.4. encourage of value creation for the Company and its stakeholders.

 

3. Remuneration Components

3.1 Fixed Remuneration for Group CEO, Executive Directors and senior management

3.1.1 The fixed salary is determined according to:

  • the scope of the duty and responsibilites;
  • the conditions and experiences required;
  • the ehtical values, internal balances and strategic targets of the Company;
  • the corporate and individual performance; and
  • current market rate within the industry and in comparable companies.

 

3.2 Bonus

The bonus in the case of Group CEO, Executives Directors and senior management is designed to reward outstanding performance. The bonus is granted to reflect the Group CEO, Executives Directors and senior management's performance as well as Group results. A discretionary assessment is made to ensure that all factors which include measurable and not directly measurable are considered.

 

3.3 Fixed Fee of Members of Board of Directors

3.3.1. The fixed fee is determined according to:

  • on par with the rest of the market;
  • reflect the qualifications and contribution required in view of the Group's complexity;
  • the extent of the duty and responsibilities; and
  • the number of Board meetings. 

 

3.4 Other Benefits and Allowances

The benefits and allowances which should be decided by the Board as a whole include:

3.4.1. chairman's allowance;

3.4.2. meeting allowance;

3.4.3. expenses incurred in the course of their duties as Directors; and

3.4.4. benefit in kind such as motor vehicle, petrol, driver, medical benefits, use of mobile phone accommodation.

 

4. Periodic Review and Disclosure

4.1 The Remuneration Committee should conduct a review on an annual basis of the criteria to be used in the recommending the remuneration package of Directors and Group CEO. The Remuneration Committee should promptly communicate the new changes or amendments of the criteria to the Board and individual Directors.

4.2 The Board should disclose this policy in the annual report.

 

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