Board Effectiveness
The Board of Directors conducts self-assessments every year in order to assess the performance and issues that arise in the past year, as well as improve operational effectiveness through self-assessments reviewed by the Nomination and Remuneration Committee. The self-assessment questionnaire of the Board of Directors and sub-committees are regularly reviewed every year.
In 2021, the Board of Directors had reviewed and approved the use of self-assessment for group, individual, and cross-assessment as revised in 2020. The use of such assessments effectively covered all aspects of the responsibilities of the Board of Directors, as well as complied with the EGCO Group’s code of conduct for business operations. Sub-committee has reviewed and revised the self-assessment for sub-committees to align with the duties and responsibilities as prescribed in the charter for sub-committees in 2021. The criteria of the assessment is calculated as a percentage of the full score for each question. The completed assessments of all directors are sent to the corporate secretary to compile and summarize the results of the scores. The results are then used to improve the functionalities and responsibilities of the Board of Directors in the upcoming year.