The performance of the ED is measured based on the achievements
of his annual KPIs. These KPIs comprise not only quantitative targets,
such as annual targeted revenue, EBITDA, PATAMI or Return on Invested
Capital (ROIC) and relative performance of the OpCos, but also qualitative
targets which include strategic milestones and initiatives that need to be
achieved and implemented on areas such as strategy, innovation, business
development, synergy, human capital management, financial management
and societal development. The weightage of the qualitative and quantitative
targets may be adjusted to accommodate the Group’s aspirations.
The evaluation on the achievement of each of the KPIs against an agreed
performance standard is reviewed by the BRC and the recommendations
of the BRC are tabled for approval by the Board. The rewards accorded
to the ED for his achievement of the respective KPIs comprise annual
bonuses and long term incentive plan in the form of RSA or options over the
shares of the Company. In the case of RSA, its vesting is further subject to
performance conditions established by the Board and the final number of
shares of RSA will depend on the level of achievement of these targets over
the performance period.
RELATIONSHIP WITH OTHER STAKEHOLDERS AND SHAREHOLDERS
Communication with Shareholders and Investors
The Board acknowledges the importance of an effective communication
channel between the Board, stakeholders, institutional investors and the
investing public at large to provide a clear and complete picture of the
Group’s performance and position as much as possible. The Company is fully
committed in maintaining high standards in the dissemination of relevant and
material information on the development of the Group in its commitment to
maintain effective, comprehensive, timely and continuing disclosure. There
has also been strong emphasis on the importance of timely and equitable
dissemination of information. Disclosures of corporate proposals and/or
financial results are made not only in compliance with the Main LR but also
include additional items through media releases and are done on a voluntary
basis. Whilst efforts are made to provide as much relevant and material
information as possible to the shareholders and stakeholders, the Board is
cognisant of the legal and regulatory framework governing the release of
materials and sensitive information so as not to mislead the shareholders.
Therefore, information that is price-sensitive or may be regarded as
undisclosed material information about the Group, is not disclosed to any
party until it is already in the public domain through disclosure.
Axiata uses a number of formal channels to account to shareholders and
stakeholders; particularly-
1.
Annual Report
The Annual Report is a major channel of communication disclosing
information not only on the Group’s business, financials and other key
activities but also additional information such as strategies, operations,
performance, challenges and its management. The Board places great
importance on the content of the Annual Report to ensure the accuracy
of the information as the Annual Report is a vital source of information
for investors, shareholders and the general public. The working
committee comprising SLT and personnel from various divisions plays a
meaningful role to ensure accuracy of information and full compliance
with relevant regulatory requirements. The contents of the Annual
Report are continuously enhanced to take into account development,
amongst others, corporate governance. At the Board level, the Board
Annual Report Committee, chaired by the BAC Chairman, oversees the
production of the Annual Report and reviews its contents before it is
published.
The Annual Report is also printed in summary form together with
a digital version of the Annual Report in CD-ROM format. An online
version of the Annual Report is also available on Axiata’s own
corporate website. Since 2014, Axiata has also made available a fully
digitised version of its Annual Report and Sustainability and National
Contribution Report, both of which can be downloaded for free at
Apple App Store and Google Play on both iOs and Android.
The complete printed versions of the Annual Report is provided to
shareholders upon request. Details on the request for printed copy are
provided in the summary of the Annual Report. Our Share Registrar will
ensure that the printed copies reach the shareholders within four days
from receipt of written request. The shareholders may also submit their
request on-line via the Share Registrar’s website at
2.
Announcements to Bursa Securities
Announcement of quarterly financial results, circulars and various
announcements are made via Bursa LINK in full compliance with
regulatory authorities’ disclosure requirements. The same is also
made available on Axiata’s own corporate website. Prior to its release,
announcements intended for Bursa Securities are subject to review
and approval by the President & GCEO, GCFO, BAC or the Board, to
ensure that the announcement fulfills the disclosure requirements as
well as meets what is intended by management. In a few instances,
announcements are also reviewed by external advisors to ensure
that its contents are accurate and complete taking into consideration
disclosure requirements and market perspectives.
Filings and announcements to Bursa Securities are available online at
3.
Media Releases
Media releases are provided to the media on all significant corporate
developments and business initiatives to keep the investing community
and shareholders updated on the Group’s developments. Media releases
are subject to approval by the President & GCEO and whenever
necessary, released to Bursa Securities to increase the visibility of
media releases.
STATEMENT ON
CORPORATE GOVERNANCE
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