Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way Globetronics is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the Globetronics is governed.
Corporate Governance Overview Statement is prepared pursuant to paragraph 15.25 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia and Malaysian Code on Corporate Governance (“MCCG”) 2017 issued by Securities Commission Malaysia. This statement gives the shareholders an overview of the corporate governance practices of the Group during financial year 2020.
This Corporate Governance Overview Statement is to be read together with the Corporate Governance (“CG”) Report which provides a detailed application for each practice as set out in MCCG 2017. This CG Report is available for reference at the Company’s website,www.globetronics.com.my,as well as on Bursa Malaysia Berhad’s website, www.bursamalaysia.com.
The Board of Directors (“Board”) of Globetronics Technology Berhad (“GTB”) is committed to practice the highest standards in corporate governance throughout the Group. The Board believes that good governance supports long-term value creation. GTB has in place a set of well-defined polices to enhance corporate governance, as well as to protect the interest of the stakeholders.
This statement together with CG Report demonstrates the Board’s commitment in sustaining high standards of corporate governance and outlines the extent the Group has complied with the principles set out in MCCG 2017 with regards to the recommendations stated under each principle for the year under review.
The Board of Directors of GTB is pleased to provide the following Statement on Risk Management and Internal Control (“Statement”) pursuant to paragraph 15.26(b) of the Bursa Malaysia Securities Berhad’s Main Market Listing Requirements. The Board is guided by the Statement on Risk Management and Internal Control-Guidelines for Directors of Listed Issuers in making disclosures concerning the main features of the Risk Management Framework and Internal Controls System of the Group and is committed to fulfilling its responsibility of maintaining a sound system of risk management and internal control in the Group. The Statement outlines the nature and state of risk management and internal control of the Group during the year.
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