Corporate Governance Statement

The two previous BEE exercises, which included a 360 degree assessment of the Board, were conducted in-house by the Company Secretary. In 2008, an external consultant, PricewaterhouseCoopers Advisory Services Sdn Bhd (PwCAS), was engaged to carry out the BEE. The exercise covered the Board and Board Committee's self and peer evaluation process which was conducted via questionnaires, and the interview of Directors for validation of evaluation results. There was also an independent review of internal documents and processes, leading to the development of the Board Performance Improvement Programme (BPIP). The Board deliberated on the findings and recommendations by PwCAS in the BPIP, and the NRC is attending to the actions required by the Board for its overall improvement.

d. Training of Directors

The Company provides a dedicated training budget for Directors' continuing education. Relevant training programmes are arranged by the Company Secretary. The Directors may also request to attend additional training courses according to their individual needs as a director or member of Board Committees on which they serve. In 2008, all Directors attended development and training programmes, the details of which are set out on pages 147 to 149 of the Annual Report. The three newly appointed Directors have also attended an induction programme organised by the Company to familiarise them with the Group's business and governance. They were provided with a Directors' manual which contains various documents including the Group Governance Model. A briefing session was also held for the newly appointed member of the AC and RMC by the Head of Group IA and the Head of Corporate Risk Management, respectively. An offsite session was held for the newly appointed LC members, to familiarise them with the regulatory process.