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| Remuneration Policies & Procedures |
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| 1.0 INTRODUCTION |
This Remuneration Policies and Procedures (“PnP”) is the guiding document (“Document”) for the Board of Directors (“the Board”) and the Remuneration Committee (“RC”) of Homeritz Corporation Berhad (“Company” or Homeritz”) and its subsidiaries (collectively referred to as the “Group”) to determine the remuneration of Directors and Senior Management, taking into account the demands, complexities and performance of the Group as well as skills and experience required.
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| 2.0 SCOPE |
| This PnP applies to all Executive Directors (“EDs”), Non-Executive Directors (“NEDs”) and Senior Management (“SM”) of the Group. |
| 3.0 POLICY & PROCEDURE |
The RC reviews and recommends the remuneration packages of EDs, NEDs and SM annually to the Board. The RC and the Board will ensure that the remuneration remains competitive necessary to attract, retain and motivate the EDs, NEDs and SM to achieve the Group’s business objectives.
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| 3.1 |
In determining the remuneration of EDs and SMs, the RC shall:
a. Ensure that EDs and SM should abstain from discussion and from participating in decision of their remuneration packages.
b. Makes recommendation to the Board on all elements of remuneration and terms of employment of EDs and SM. The components of the remuneration package of EDs and SM are linked to:
i. the level of skills, experience, scope of responsibilities of each individual;
ii. the corporate and individual performance; and
iii. remuneration rate of the industry and market as a whole.
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| 3.2 |
Salaries payable to Executive Directors shall not include a commission on or percentage of turnover (paragraph 7.23 of Listing Requirements) |
| 3.3 |
The remuneration of NEDs comprises Directors’ fees and meeting allowances. The review of remuneration for NEDs should take into account the experience and level of responsibilities undertaken by the NEDs concerned. |
| 3.4 |
Fees payable to NEDs shall be by a fixed sum, and not by a commission on or percentage of profits or turnover (paragraph 7.23 of Listing Requirements); |
| 3.5 |
The Directors’ fees and allowances of the Company are subject to the approval of the shareholders of the Company at the Annual General Meeting. |
| 3.6 |
The RC shall review and recommend to the board of any extra remuneration to be paid to any Directors who is appointed to any executive office or serves on any committee or who otherwise performs or renders services, which in the opinion of the Directors are outside his ordinary duties as a Director of the Company. |
| 4.0 REVIEW OF POLICIES AND PROCEDURES |
| This PnP is subject to the periodical review by the Board and will be amended as appropriate. |
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