Amal Ltd 2014-15

Amal Ltd | Annual Report 2014-15 2.1.03 Noting i) general notices of interest of the Directors ii) minutes of the meetings of the Board and its Committees and also the Resolution(s) passed by circulation 2.1.04 Recommending i) appointment of the Statutory Auditors ii) declaration of final dividend 2.1.05 Reviewing i) corporate strategy, major plans of action, Risk Policy, annual budgets and business plans ii) default in payment of statutory dues iii) fatal or serious accidents, dangerous occurrences and material environmental matters iv) foreign exchange exposure and exchange rate movement, if material v) the integrity of the accounting and financial reporting systems, and that appropriate systems of control are in place, in particular, systems for Risk Management, financial and operational control, and compliance with the law and relevant standards 2.1.06 Setting i) a corporate culture and the Values for executives behaviour ii) well-defined mandate, composition and working procedures of the Committees 2.1.07 Others i) Acting on a fully informed basis, in good faith, with due diligence and care, and in the best interest of the Company and the Shareholders ii) Aligning remuneration of the key executives and the Board Members with the long- term interests of the Company and the Shareholders iii) Applying high ethical standards iv) Assigning sufficient number of the Non-executive Board Members capable of exercising independent judgement to items where there is a potential for conflict of interest v) Assisting the Executive Management by challenging the assumptions underlying strategy, strategic initiatives (such as acquisitions), risk appetite, exposures and the key areas of focus of the Company vi) Encouraging training of the Directors on a continuous basis to ensure that the Board Members are kept up-to-date vii) Exercising objective and independent judgment on corporate affairs viii) Facilitating the Independent Directors to perform their role effectively as the Board Members and also as the Members of Committees ix) Meeting the expectations of operational transparency of the Stakeholders while maintaining confidentiality of information in order to foster a culture of good decision-making