The enhancement of corporate governance standards is vital towards achieving the objectives of transparency, accountability and effective performance for Boilermech Holdings Berhad ("Boilermech" or "Company") and its subsidiaries ("Group"). It is with the aim of enshrining the concepts of good governance as promulgated by the Malaysian Code on Corporate Governance 2017 reviewed and updated in 2021 ("Code") that this Board Charter ("Charter") is established.
The Charter serves as a reference point for the activities of the Board of Directors (“Board”) and should not be construed as a blueprint for Board operations. Just as each organisation has its own corporate culture, the dynamics of each Board are unique. The dynamics shift as the composition of the Board changes, and the Directors of the Company should always be open to new opportunities and ready to confront new challenges brought about by the changes.
This Charter is designed to provide guidance and clarity for Directors and Management regarding the role of the Board and its Committees, the requirements of Directors in carrying out their stewardship role and in discharging their duties towards the Company as well as the Board's operating practices. This Charter does not overrule or pre-empt the statutory requirements of Directors enshrined in the Companies Act 2016, the Income Tax Act 1967 or other relevant statutes, including the conduct of the Board as stipulated in the Company's Constitution or Articles of Association