BIMB Integrated Annual Report 2017

This CG Overview Statement summarises the main corporate governance practices and policies in place during the 2017 financial year and at the date of this statement relating to the consolidated entity comprising BHB and its subsidiaries. The Company’s corporate governance practices are reviewed regularly and will continue to be developed and refined to meet the needs of the Company and taking into account best practices and guidelines. The regulatory environment continues to evolve with major changes in 2017 in particular the amendments to the Bursa Securities Main Market Listing Requirement on 29 November 2017 and MCCG 2017 which came into effect on 26 April 2017. BHB’s corporate governance framework is consistent and complies with the following requirements and guidelines:- (a) Companies Act 2016. (b) Bank Negara Malaysia’s (“ BNM ”) Corporate Governance Policy (“ BNM CG Policy ”); (c) MCCG 2017; (d) Bursa Malaysia Securities Berhad (“ Bursa Securities ”) Main Market Listing Requirements (“ Listing Requirements ”); (e) Corporate Governance Guide (“ CG Guide ”): Towards Boardroom Excellence 2 nd Edition by Bursa Securities; (f) Green Book on Enhancing Board Effectiveness (“ Green Book ”) by the Putrajaya Committee on Government Linked-Companies High Performance; and (g) MSWG’s Malaysia – ASEAN Corporate Governance Scorecard. The application of the respective principles and best practices on corporate governance are highlighted in the various sections of this CG Overview Statement. BHB’s established structures, processes and policies help to ensure compliance with laws and regulations and provide clear lines of sight for decision-making and accountability. The Board of Directors of BIMB Holdings Berhad (“ BHB ” or “ the Company ”) is committed to upholding high standards of corporate governance to preserve stakeholders’ trust, safeguard their interest and enhance their value in line with BHB Group’s objective to be the premier Islamic financial services provider. The Board of Directors (“ Board ”) acknowledges the importance of governance and has given full commitment to ensure the adoption of high standards of practices in both the Group’s businesses and operations. A midst an increasingly challenging business environment, the Board continuously strives to refine the company’s corporate governance practices and processes to meet the challenges head-on, to ensure that the group competitive edge remains undiminished. Testament to the Board’s unwavering commitment in the area of corporate governance, BHB has received the following awards:- 2017 MALAYSIAN NATIONAL ANNUAL CORPORATE REPORT AWARDS (NACRA) • Certificate of Merit recipients in Annual Report MINORITY SHAREHOLDER WATCHDOG GROUP (MSWG) • Top 20 Merit award for overall Corporate Governance and Performance • Top 20 Merit award for Corporate Governance Disclosures ASIA SUSTAINABILITY EXCELLENT AWARD 2017 • Best Sustainability Strategies • Best Sustainability Report THE EDGE BILLION RINGGIT CLUB CORPORATE AWARDS 2017 • Silver, Highest Growth in Profit after Tax in 3 years – Finance Sector (below RM10 Billion Market Cap) 91 Overview Value Creation Accountability Financial Statements Sustainability Performance Data Shareholders Information 21 st AGM Information Management Discussion & Analysis