line with the recommendation of the Malaysian Code on Corporate Governance 2017,
the Board should establish formal and transparent remuneration policies and
procedures to attract and retain directors. The remuneration package should be
aligned with the business strategy and long-term objectives of the Company.
Remuneration of the Board should reflect the Board’s responsibilities,
expertise and complexity of the Company’s activities.
Remuneration Policy of FCW Holdings Berhad (“FCW” or “Company”) sets out to
provide remuneration principles and guidelines for the Executive Directors and
Non-Executive Directors of the Company.
Remuneration Policy is designed to:-
the level of remuneration package of Directors.
develop and retain high performing and motivated Directors.
remuneration to Directors that commensurate with their responsibilities and
competitive with the relevant market and industry practice.
the incentive plans, performance measures and targets for Directors with the
long term interest of the shareholders.
Remuneration Committee of the Company shall on annual basis review the
remuneration packages for Executive Directors and Non-Executive Directors and
recommend the same to the Board for adoption.
Board may seek professional advice to assist the Board in formulating an
attractive compensation and benefits package that aims to attract, retain and
i) Executive Directors’ Remuneration
The remuneration of Executive
Directors of the Company is made up of fixed salaries and performance-based
incentive components. The remuneration levels of Executive Directors are
structured to enable the Company to attract and retain highly qualified
executive board members.
packages and benefits accorded to the Executive Directors are determined based
on their scope of duties and responsibilities, individual performance, contribution
and commitment devoted to the Company as well as the financial performance of
the Group. The Remuneration Committee of the Company is assigned to carry out
its annual review on Executive Directors’ remuneration packages and benefits.
ii) Non-Executive Directors’ Remuneration
The level of remuneration for
Non-Executive Directors shall reflect the experience and level of
responsibilities undertaken by the respective Non-Executive Directors. The
remuneration of Non-Executive Directors shall not be based on commission,
percentage of profits or turnover.
Non-Executive Directors receive
remuneration in the form of Directors’ fees for their services and
reimbursement of expenses incurred, if any, in the course of performing their
The remuneration of Non-Executive
Directors are reviewed by the Remuneration Committee annually. Based on the
recommendation of the Remuneration Committee, the Board will review and propose
any adjustments in Non-Executive Directors’ fees for approval by the
shareholders of the Company at the annual general meeting.
Remuneration Policy is subject to periodical review by the FCW Board and will
be amended as appropriate to reflect the current best practices.