CORPORATE GOVERNANCE

The Board of Directors of GFM Services Berhad believes in the implementation of a sound framework of rules and practices to ensure that the Company is steered and governed in an effective manner, focusing on progressive and sustainable growth, whilst enhancing stakeholders' values.

To this effect, the Board has established the following responsibilities for adherence, towards achieving good corporate governance.


Board Charter

The Board of Directors (“the Board”) is responsible for the oversight of the Company’s operations and strategy, as well as responsible to the shareholders to ensure that the highest standards of corporate governance are followed in its pursuit of improving value of the Company’s shares. In short, the Board’s objectives are:-

  • To help the Company to succeed;
  • To add value and support, as a Board, to the executive team;
  • To deliver exemplary corporate governance and build effective and open Board;
  • To represent well the values that the Company stands for; and
  • To be a team player of the Company.

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Sustainability Policy

The Policy sets out requirements for sustainability across GFM Services Berhad and the entities that it controls (“the Group”).

Sustainability is the integration of environmental, social and governance factors into decision making to maximize short and long term shareholder value, seek competitive advantage, and contribute to safe and healthy employees, communities and ecosystems.

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Whistle-blower Policy

The GFM Whistle-blower policy and supporting guidelines provide details on the reporting and handling of any compliance violations. It is the policy of GFM to ensure that an open working environment is maintained for the legitimate reporting by all GFM directors, employees or contractors, of any unlawful, undesirable or improper conduct, without fear of reprisal. The policy applies to all directors, employees and contractors of GFM and its subsidiaries.

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Fit and Proper Policy

GFM Services Bhd ("GFM" or the "Company") has adopted the Directors' Fit and Proper Policy to ensure a formal, rigorous and transparent process for the appointment and re-election of directors and senior management of the Company and its subsidiaries.

In formulating this policy, the Company is obliged to comply with the requirements contained in the Ace Market Listing Requirements ("AMLR") of Bursa Malaysia Securities Berhad ("Bursa Malaysia") and other applicable rules and regulations at the prevailing country to ensure compliance with the obligations imposed. .

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Audit and Risk Management Committee

The Audit and Risk Management Committee (“ARMC”) is established to act as a committee of the Board of Directors (“the Board”) to fulfill its fiduciary responsibilities as outlined in Chapter 15 at the ACE Market Listing Requirements (“Listing Requirements”) and all other relevant directive as imposed by Bursa Malaysia Securities Berhad (“Bursa Securities”), and to assist the Board to review the adequacy and integrity of the Group’s financial administration, risk management, internal control and reporting. The ARMC shall also assist the Board to review and update the Anti-Bribery and Corruption Policy of the Group from time to time.

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Nomination and Remuneration Committee

The Nomination and Remuneration Committee ("NRC") is established to act as a committee of the Board of Directors ("the Board") to fulfill its fiduciary responsibilities as outlined in Chapter 15 of the ACE market Listing Requirements ("Listing Requirements") and all other relevant directive as imposed by Bursa Malaysia Securities Berhad, and to assist the Board in the following areas...

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