Corporate Governance Statement

The Board has reviewed the need for the appointment of a Senior Independent NED and decided it is unnecessary. In arriving at this decision, the Board considered various factors, including its ability to act independently and objectively due to its unique composition and the fact that the Chairman, who is a PID, demonstrates sufficient objectivity in leading the Board. In addition, it was recognised that the Board dynamics are healthy and decisions are arrived at after energetic participation in open debate by the Directors. The existing structure is considered adequate to enable any concern on the Company to be conveyed or channelled to the Board for its deliberation. In this respect, shareholders or general investors who do not wish to go through the normal channels of contact with the Company (i.e. the Chairman, CEO or the CCCB), may direct their concerns to the Independent NEDs of the Company at INED@bursamalaysia.com.

3. Board Structures and Procedures

a. Board and Board Committee Meetings

The Directors' attendance for the 19 Board meetings held in 2008 was as follows:

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In 2008, there were two NEDs meetings led by the Chairman of the Board, to discuss corporate and organisational issues with a view to enhancing the overall effectiveness of the Board. The issues raised during the NEDs meetings were communicated to the CEO for his necessary action and management's continuous improvement.